After stabilizing, Ethereum price sees key levels to monitor in the near term.

Quick Summary:

With this MACD formation, it could be suggested that the price of Ethereum is still bullish and there is a possibility it could break above the consolidation zone Finally, using the Relative Strength Index (RSI) also to analyze the price action in the 4-hour timeframe, it can be seen that the RSI line is attempting to back up after failing to cross below the 50 lines, suggesting that the price is still bullish.

Ethereum On The 4-Hour Chart Looking at Ethereum’s chart on the 4-hour timeframe, it can observed that the price is trading above the 100-day moving average, suggesting ETH’s price is on a bullish trend and could break above the consolidation zone.

Possible Outcomes If There Is A Breakout In Either Direction Conclusively, if there is a break out above the consolidation zone, the price of ETH might continue to move upward toward the $4,094 resistance level.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: Ethusd ETH ETHUSDT RSI Relative Strength Index Ethereum SMA Ethereum MACD Simple Moving Average

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-25 @ 13:50:55 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 367 words

Reading Time: 3 minutes read

Sentences: 62 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21083516

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 1 days ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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