Ethereum (ETH/USD) continues its upward momentum in early Asian trading sessions, recovering from recent sell-off pressure around the $3968 level. This key resistance area aligns with prior upside price targets near the $3964 zone, with buyers stepping back in after a swift correction to $3643.
Key Price Levels and Technical Indicators
Upside Price Targets:
- Immediate targets: $4058, $4097, $4190
- Higher resistance levels: $4318, $4330, $4490
- Long-term objectives: $4523, $4793, $4893
Support Levels to Watch:
- Primary support: $3688 (23.6% Fibonacci retracement of 2781.99-3968.49 range)
- Critical defense zones: $3515, $3375, $3235
- Stronghold areas: $3082, $3035
Moving averages paint a mixed picture:
- 4-hour chart: 50 MA remains bullish above both 100 MA and 200 MA
- Hourly chart: 50 MA shows bearish positioning below 100 MA but above 200 MA
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Market Dynamics and Trading Signals
The current price hovers near:
- 4-hour 50 MA: $3701.79
- Hourly 100 MA: $3829.22
Oscillator analysis reveals:
- 4-hour timeframe: SlowK bullish above SlowD, while MACD shows bearish divergence
- 60-minute chart: Both SlowK and MACD demonstrate bullish momentum
Strategic Trading Levels:
| Support Zones | Resistance Targets |
|---|---|
| $3515-$3375-$3235 | $3994-$4384-$4518 |
FAQ: Ethereum Price Movement Explained
Q: Why did ETH drop from $3968 to $3643?
A: Profit-taking near a key resistance zone triggered the correction, with buyers re-entering at Fibonacci support levels.
Q: What indicators suggest continued bullish potential?
A: The sustained 50 MA above longer MAs on 4-hour charts and MACD momentum on hourly charts indicate underlying strength.
Q: Where might ETH face selling pressure?
A: The $3994-$4384 zone presents immediate resistance, with psychological resistance at $4000 likely influencing trader behavior.
Q: How reliable are these technical targets?
A: While historical patterns and Fibonacci projections provide guidance, always combine technicals with risk management strategies.
Disclaimer: This analysis represents third-party market commentary for informational purposes only. It does not constitute financial advice or reflect the views of any affiliated organization.