Ethereum is Showing Early Signs of Fresh Rally, But 100 SMA is the Key

Ethereum saw a new increase of more than $3,750 against the US dollar. The ETH market is struggling to keep pace with the US Dollar’s $3,750 level.

  • Ethereum saw a steady rise above the $3700 and $3,750 zones.
  • The 100 hourly moving average is at the same level as $3,750.
  • A key bullish trend lien is developing with support at $3,780 (data feed via Kraken).
  • To avoid further declines in the short term, the pair should remain above the SMA 100 hours per hour.

Ethereum Prices Decently Increasing

Ethereum established a base of $3,600 above the resistance zone and began a new increase. ETH reached the $3750 resistance zone and moved into a positive zone.

Clear movement was seen above the $3800 and 100-hourly simple moving average levels. The price has been consolidating its gains and a new weekly high near $3854 was achieved. The price fell slightly below the levels of $3,840 and 3,820.

Below the 23.6% Fib level of the recent rise from $3622 swing high to $3854 high, the price was trading below. The 100-hourly simple moving average and it is trading close to $3,800.

Ethereum Price
Ethereum Price
Source:, ETHUSD

Near the $3,820 area is immediate resistance to the upside. Next is the $3,850 mark. Price could reach $4,000. A strong upside breakout of the $3850 level would be a major resistance. Additional gains may push the price up to the $4,120 mark. There is a strong resistance at the $4,200 mark.

What’s the down side to Ethereum?

If ethereum does not start an increase above $3,850, then it may start a downtrend. The trend line or near the $3780 level provides initial support for the downside. Now, the first support level is near the 3/885 and 100 hourly SMA.

Bulls may feel pressured if the price falls below the 100 hourly SMA. If this is the case, then the price might fall to the $3,740 support area in the short term. This price is at the 50% Fib level of the recent rise from $3.622 swing lows to $3.854 highs.

Technical Indicators

Minutely MACDIn the bullish zone, the MACD is losing momentum for USD/ETH.

Hourly RSIThe RSI of ETH/USD hovers around the 50 mark.

Major Support Level – $3,750

Major Resistance Level – $3,850

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