Ethereum Defies Crypto Volatility, Eyes $4,000 Breakthrough Amid Bullish Trend


In the volatile realm of cryptocurrency, Ethereum seems to steadily buck the trend with a strong upward thrust. Once again, Ethereum has bypassed the fundamental $3,800 resistance mark while consolidating its position around $3,850. It is now steering towards a potential breakthrough beyond the symbolic $4,000 barrier in the impending future.

Ethereum’s journey commenced on a refreshing note, breaking through the previously dauntless $3,750 resistance. The currency is now comfortably poised above this mark, as well as the 100-hour Simple Moving Average. An integral factor resuscitating this surge is a significant bullish trend line which finds its support burgeoning at $3,780. This bullish trend is punctuated on the hourly chart of the ETH/USD, data mined from the renowned cryptocurrency exchange, Kraken.

Follow us on Google News! ✔️

Ethereum’s position remains bolstered for even higher ascents. Its market value has held fast above the $3,540 support zone, an investment bedrock for many. From this firm base, Ethereum has pulled ahead of the pack with signs of a fresh and determined rise above the $3,650 bar.

A shift transpired as Ethereum crossed the $3,750 fortification. The bulls took command, bolstering the price beyond the vital 50% Fibonacci retracement level. This was projected from the recent downward swing of $3,944 high to the $3,530 low.

Ethereum continues to trade loftily above the $3,750 mark, backed by the confidence pulsating from the 100-hour Simple Moving Average. Beyond this point, Ethereum sails beyond the 76.4% Fib retracement level, resisting the downward shift from the $3,944 high to the $3,530 low.

Looking ahead, immediate resistance looms at the $3,880 level with a critical ceiling expected at $3,920. Anything beyond the $3,920 mark can propel Ethereum’s value even higher. The subsequent pivotal barrier lies at $4,000, beyond which Ethereum may gather momentum, propelling towards the $4,080 threshold.

If Ethereum surmounts the touted $4,080 mark, it’s expected to make a beeline for the $4,220 resistance. Any surge beyond this territory could catapult Ethereum to the dizzying height of $4,350.

However, should Ethereum falter at the $3,880 resistance, the currency may take a downward turn. The initial defense lies near the $3,800 level and its trend line. The following major hedgerow resolutely lies in the $3,735 territory. Any slippage below the $3,735 mark could push Ethereum back to the $3,630 groundwork and potentially even to the $3,540 vicinity.

In a nutshell, hourly MACD indicates Ethereum’s upward momentum is yet to exhaust its fuel in the bullish zone, with the RSI for ETH/USD hovering above the neutral 50 zone. It is now a matter of watchful waiting to see how this story unfolds. Major support is ingrained at $3,800 while the significant hurdle lies at $3,880. Will Ethereum follow the cryptic pied piper to glorious heights or drop further into obscurity? Only time will tell.