{"id":24941,"date":"2024-12-02T03:18:57","date_gmt":"2024-12-02T03:18:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24941"},"modified":"2024-12-02T03:18:57","modified_gmt":"2024-12-02T03:18:57","slug":"ethereum-bulls-charge-ahead-4k-within-grasp","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24941","title":{"rendered":"Ethereum Bulls Charge Ahead: $4K Within Grasp"},"content":{"rendered":"

Ethereum price is moving higher above the $3,600 zone. ETH is showing bullish signs and might soon aim for a move above the $3,800 resistance zone.<\/em><\/p>\n

Ethereum started a decent increase from the $3,550 zone.
\nThe price is trading above $3,550 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could restart its increase if it clears the $3,750 zone.<\/p>\n

Ethereum Price Eyes Steady Increase<\/h2>\n

Ethereum price remained supported above $3,350 and started a fresh increase like Bitcoin<\/a>. ETH was able to surpass the $3,450 and $3,550 resistance levels.<\/p>\n

The bulls pumped the price above the $3,700 level. A high was formed at $3,748 and the price is now consolidating gains. There was a minor decline below the $3,720 level. The price dipped and tested the 23.6% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high.<\/p>\n

Ethereum price is now trading above $3,550 and the 100-hourly Simple Moving Average<\/a>. There is also a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH\/USD.<\/p>\n

<\/a><\/p>\n

On the upside, the price seems to be facing hurdles near the $3,740 level. The first major resistance is near the $3,750 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,940 resistance zone or even $4,000.<\/p>\n

Downside Correction In ETH?<\/h2>\n

If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,700 level. The first major support sits near the $3,675 zone.<\/p>\n

A clear move below the $3,675 support might push the price toward the 61.8% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high at $3,640. Any more losses might send the price toward the $3,570 support level in the near term. The next key support sits at $3,550.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\n

Major Support Level \u2013 $3,700<\/p>\n

Major Resistance Level \u2013 $3,750<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price is moving higher above the $3,600 zone. ETH is showing bullish signs and might soon aim for a move above the $3,800 resistance zone. Ethereum started a decent increase from the $3,550 zone. The price is trading above $3,550 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":24942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24941"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24941"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24942"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}