- The Ethereum price has registered a marginal increase during the ongoing session, as buyers look to push ETH to $4100.
- ETH was quite bullish during the previous week and had registered an increase of over 3% on Thursday.
The Ethereum price registered a slight increase during the current session, as ETH managed to stay above $4000. ETH had pushed up by over 3% on Thursday, rising above the 20-day SMA and moving to $4112. On Friday, the price fell back in the red, dropping by 1.59%, before rising by 1.23% on Saturday and settling at $4097. Sunday saw ETH back in the red once again, as the price dropped by 0.78% before pushing back up during the current session.
Ethereum Price Chart Indicates Buyers Looking To Push ETH To $4100
The Ethereum price was fairly bullish during the previous weekend, rising by 2.11% on Saturday. However, the price fell back on Sunday, dropping by 0.95% and settling at $3927. Monday saw the price back in the green, with ETH registering a marginal increase before rising by almost 2% on Tuesday and settling at $4018. Despite the bullish sentiment, the price fell back in the red on Wednesday, dropping by 0.94% and settling at $3981.
Image: ETH/USD daily
After dropping to $3981 on Wednesday, the Ethereum price fell made a strong recovery on Thursday, rising by over 3%, moving above the 20-day SMA and settling at $4112. The price fell back on Friday, dropping to $4047, where the 20-day SMA acted as support and ETH pushed up to $4097 on Saturday. However, ETH was back in the red on Sunday, dropping by 0.78% and settling at $4065, before recovering during the current session.
We can see that the Parabolic SAR is currently bullish, indicating that the price could push up during the current session.
Looking at IntoTheBlock’s IOMAP for the Ethereum price, we can see that ETH faces strong resistance at around $4147. At this price level, over 1.7 million addresses have sold more than 10 million ETH.
The 4-hour Ethereum price chart shows us that ETH had pushed past the 20 and 50-bar SMAs on the 21st when it rose to $4008. The price pushed up from this level, rising to $4051, but then turned bearish and dropped to $3912 on the 23rd, going back below the 20 and 50-bar SMAs. The price made a strong recovery from this level, rising to $4135, pushing back above the two SMAs. However, the 200-bar SMA acted as resistance at this level, and ETH fell back to $4041, where the 20-bar SMA acted as support. The price then rose to $4097 and dropped to $4016 on the 26th, slipping back below the 20-bar SMA. The price recovered from this level and gradually moved to its current level of $4080.
We can see that the MACD is currently bearish, but if the price continues to drop, we could see it flip to bullish.
Image: ETH/USD 4-hour
Ethereum Price Is Expected To Reach These Levels
Looking at the Ethereum price chart, we can see that ETH has made a marginal recovery during the current session. We could see ETH push to $4100 during the current session if the current sentiment prevails.