✴️ Ethereum - Technical Analysis

Ethereum has started a new uptrend with a support level of $ 4,150; Breaking the $ 4,300 resistance level shortly will pave the way for further climbing.
Ethereum started a new uptrend with resistance at $ 4,050. It then managed to break the $ 4,150 resistance and move away from the 100-hour moving average.
It even opened away above the $ 4,250 resistance and finally traded at the $ 4,313 price cap and corrected. The nearest downstream support level is now in the $ 4,260 range; Where the 23.6% Fibonacci retracement level of the uptrend has fallen from the floor of $ 4,091 to the ceiling of $ 4,313.
The ETH / USD's hourly chart also shows a bullish channel with support at around $ 4,175. The nearest upstream resistance level is around $ 4,300.
Higher, key resistance is considered at $ 4,320; Climbing to the top will probably be the beginning of a new upward movement. In this case, there is a possibility of a solid climb to $ 4,400. There are still no obstacles up to $ 4,550.
But if Ethereum cannot break the key resistance of $ 4,320, a new downturn is likely to begin. In this case, the nearest downstream support level is around $ 4,260.
Lower in the $ 4,200 range, strong support is expected; Because we see a 50% Fibonacci level in this range. The $ 4,175 range and the uptrend line are the main support; Its collapse will pave the way for the fall of Ethereum to the support of $ 4,050 and increase the risk of falling from the psychological level of $ 4,000.