Ethereum Price Targets $4,000 as Key Indicators Signal Bullish Momentum

Ethereum price is trending upwards, holding above $3,800. Clearing resistance at $3,880 and $3,920 could trigger further gains, possibly reaching $4,080 or even $4,200.

Ethereum price is showing positive signs as it moves higher above the $3,800 resistance zone. ETH could gain further bullish momentum if it clears the key resistance levels of $3,880 and $3,920.

Ethereum Price Eyes More Upsides

Ethereum price has remained stable above the $3,760 support zone. It formed a base and started another increase above the $3,800 level, mirroring Bitcoin movements.

There was a rise above the $3,820 and $3,840 levels, with the price testing the $3,880 resistance zone. A high was formed at $3,884, and the price is now consolidating gains within a range. It has already tested the 23.6% Fibonacci retracement level of the upward move from the $3,729 swing low to the $3,884 high.

Ethereum is currently trading above $3,800 and the 100-hourly Simple Moving Average. Additionally, a key bullish trend line is forming with support near $3,840 on the hourly chart of ETH/USD.

If there is another increase, ETH might face resistance near the $3,880 level. The first major resistance is near the $3,920 level. An upside break above the $3,920 resistance could send the price higher. The next key resistance is at $4,000, above which the price might gain traction and rise towards the $4,080 level.

If the bulls push Ether above the $4,080 level, the price could rise and test the $4,200 resistance. Any further gains might send Ether towards the $4,320 resistance zone.

Are Dips Supported In ETH?

If Ethereum fails to clear the $3,880 resistance, it could start a downside correction. Initial support on the downside is near $3,840 and the trend line.

The next major support is near the $3,800 zone and the 50% Fibonacci retracement level of the upward move from the $3,729 swing low to the $3,884 high. A clear move below the $3,800 support might push the price towards $3,720. Any more losses could send the price towards the $3,650 level in the near term.

Technical Indicators

• Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
• Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
• Major Support Level – $3,800
• Major Resistance Level – $3,880

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