ETH is above $4,200, a level not seen since December 2021!
Key Support levels: $4,000
Key Resistance levels: $4,862
1. Bulls Eye the ATH
The last time ETH was this high in price it was 2021. This is a major signal to the market that buyers mean business and are ready to take this cryptocurrency much higher. The prime target right now is the all-time high at $4,862. Once that is broken, ETH can enter price discovery.
2. Bulls Dominate the Chart
Since April, the cryptocurrency entered a strong uptrend that only saw brief corrections before continuing. In early August, sellers tried to keep ETH under $4,000, but were eventually defeated which allowed the price to break that resistance and move higher. The $4,000 level is now acting as a key support should sellers return.
3. Clear Uptrend on Weekly MACD
A look at the weekly MACD shows a steady uptrend with no signs of a possible reversal. As long as the MACD histogram continues to make higher highs, this rally will continue. Moreover, the moving averages are expanding, which gives a bullish bias. In light of this, Ethereum is on a collision course with its ATH at $4,862.
The post Ethereum (ETH) Price Predictions for This Week appeared first on CryptoPotato.
This articles is written by : Fady Askharoun Samy Askharoun
All Rights Reserved to Amznusa www.amznusa.com
Why Amznusa?
AMZNUSA is a dynamic website that focuses on three primary categories: Technology, e-commerce and cryptocurrency news. It provides users with the latest updates and insights into online retail trends and the rapidly evolving world of digital currencies, helping visitors stay informed about both markets.
