Ethereum's Price Soars, Bulls Eye Further Gains Above $4,300 Ethereum (ETH) has demonstrated significant strength, finding robust support and initiating a powerful rally. The cryptocurrency is currently navigating key resistance levels, with market sentiment leaning heavily towards continued upward momentum and the potential for additional gains.
Ethereum's Bullish Momentum
Having successfully defended the $3,950 support zone, Ethereum's price embarked on a fresh surge, outperforming Bitcoin in its recovery. ETH climbed past the $4,000 and $4,250 resistance marks, with bulls even pushing it above the $4,300 level. The price briefly touched $4,362, its recent high, and is now consolidating these gains. This upward trajectory is further supported by trading consistently above the $4,100 mark and the 100-hourly Simple Moving Average, alongside a discernible bullish trend line with established support at $4,250 on the hourly chart.
Key Levels and Outlook
Technical indicators reinforce the positive outlook, with the Hourly MACD showing strong bullish momentum and the Hourly RSI comfortably above the 50 zone. Looking ahead, Ethereum faces immediate resistance around $4,320, followed by $4,350. A decisive break above the critical $4,400 resistance could pave the way for a rapid ascent towards the $4,500 mark. Conversely, should ETH fail to overcome the $4,320 resistance, a downside correction might ensue. Key support levels to watch in such a scenario include $4,250, followed by significant floors at $4,200 and potentially $4,000 if further losses occur.
