{"id":123647,"date":"2021-05-04T08:20:20","date_gmt":"2021-05-04T08:20:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123647"},"modified":"2021-05-04T08:20:20","modified_gmt":"2021-05-04T08:20:20","slug":"ethereum-price-analysis-eth-surges-to-new-ath-above-3400","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-surges-to-new-ath-above-3400\/","title":{"rendered":"Ethereum Price Analysis: ETH Surges To New ATH Above $3,400"},"content":{"rendered":"
Ethereum price is gaining pace above the $3,000 level against the US Dollar. ETH\/USD rallied to $3,450 and it is now showing signs of a downside correction.<\/em><\/p>\n After forming a base above the $2,200 level, ethereum found started a strong increase against the US Dollar. ETH broke many hurdles near $2,400 and $2,500 to move into further into a bullish zone.<\/p>\n The price broke the $3,000 barrier and settled well above the 55 simple moving average (4-hours). A new all-time high is formed near $3,458 and the price is now correcting gains. It spiked below the $3,350 and $3,300 support levels.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward move from the $2,864 swing low to $3,458 high. An initial support on the downside is near the $3,180 and $3,160 levels.<\/p>\n Moreover, there is a crucial bullish trend line forming with support near $3,140 on the 4-hours chart. The trend line is close to the 50% Fib retracement level of the upward move from the $2,864 swing low to $3,458 high. A downside break below the trend line might call for a test of the $3,000 support zone.<\/p>\n On the upside, an initial resistance on the upside is near the $3,350 level. The first major resistance is near the $3,450 level. The main hurdle is at $3,500, above which the price could start a wave towards the $3,800 and $4,000 levels in the near term.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly trading well above the $3,000 level and the 55 simple moving average (4-hours). Overall, ether price is correcting gains, but it is likely to find bids near the $3,150 and $3,000 levels.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is now well above the 50 level.<\/p>\n Key Support Levels \u2013 $3,160, followed by the $3,000 zone.<\/p>\n Key Resistance Levels \u2013 $3,400 and $3,500.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n