ETH successfully holds over $ 4,000 psychological, what next?
ETH managed to keep the price above $ 4,000. However, the upward momentum is very weak.
- Major support levels: $ 3,738, $ 4,000
- Key Resistors: $ 4,435, $ ​​4,868
ETH is just above the $ 4,000 support with low trading volume and low volatility. This is normal during the holidays at the end of the year. Now the bulls will try to push the price down to resistance at $ 4,435. The momentum could return this week before the new year starts.
ETH / USD daily chart | Source: TradingView
Technical indicators
Trading volume: Very low volume; Hence, the most likely scenario for ETH is a sideways move.
RSI: The daily RSI is currently hovering around the 50 mark, which favors a sideways scenario for ETH.
MACD: The daily MACD has formed a bullish cross and is sloping up. This shows that the bulls are slowly turning back.
ETH / USD daily chart | Source: TradingView
Perspectives
The outlook for ETH is currently neutral. However, the fact that the bulls have kept the price above $ 4,000 for the past few days suggests that momentum may pick up again soon.
After that, price could retest the resistance at $ 4,435.
Contrary to this view, a loss of $ 4,000 could move the price towards the recent major support at $ 3,738.
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Ethereum
ETH successfully holds over $ 4,000 psychological, what next?
ETH managed to keep the price above $ 4,000. However, the upward momentum is very weak.
- Major support levels: $ 3,738, $ 4,000
- Key Resistors: $ 4,435, $ ​​4,868
ETH is just above the $ 4,000 support with low trading volume and low volatility. This is normal during the holidays at the end of the year. Now the bulls will try to push the price down to resistance at $ 4,435. The momentum could return this week before the new year starts.
ETH / USD daily chart | Source: TradingView
Technical indicators
Trading volume: Very low volume; Hence, the most likely scenario for ETH is a sideways move.
RSI: The daily RSI is currently hovering around the 50 mark, which favors a sideways scenario for ETH.
MACD: The daily MACD has formed a bullish cross and is sloping up. This shows that the bulls are slowly turning back.
ETH / USD daily chart | Source: TradingView
Perspectives
The outlook for ETH is currently neutral. However, the fact that the bulls have kept the price above $ 4,000 for the past few days suggests that momentum may pick up again soon.
After that, price could retest the resistance at $ 4,435.
Contrary to this view, a loss of $ 4,000 could move the price towards the recent major support at $ 3,738.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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