CandleFocus Ethereum Price Aims Higher: A Smooth Path To $4,000 and Beyond?
2024-12-13
Author: Content Editor
The Ethereum price has experienced a decent increase and is now consolidating gains. It has surpassed several resistance levels and is trading above $3,800 and the 100-hourly Simple Moving Average. There is also a bullish trend line forming with support at $3,840. On the upside, the price is currently facing hurdles at $3,950 and $3,980, with the main resistance forming at $4,000. A clear break above $4,000 could lead to further gains towards the $4,150 and $4,320 resistance levels. However, if Ethereum fails to clear the $3,980 resistance, it could begin a decline. The initial support is at $3,840, followed by the $3,750 zone. If the price continues to drop, it could reach support levels at $3,665, $3,550, and $3,500. The technical indicators, MACD and RSI, are both indicating bullish momentum.
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