{"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

Ethereum Price Analysis<\/h2>\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

Technical indicators<\/h2>\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>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum price is gaining pace above the<\/p>\n","protected":false},"author":3,"featured_media":123646,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nEthereum Price Analysis: ETH Surges To New ATH Above $3,400 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-surges-to-new-ath-above-3400\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Analysis: ETH Surges To New ATH Above $3,400 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is gaining pace above the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-surges-to-new-ath-above-3400\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-04T08:20:20+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/05\/Ethereum-Price-Analysis-ETH-Surges-To-New-ATH-Above-3400-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-surges-to-new-ath-above-3400\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-surges-to-new-ath-above-3400\/\",\"name\":\"Ethereum Price Analysis: ETH Surges To New ATH Above $3,400 - 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