Ethereum it is consolidating its prices above the $ 3.800 support zone. However, ETH will also have to break through the $ 3.900 and $ 3.950 resistance levels to rise further.
We recall how in the last few hours Ethereum has started a new rise above the $ 3.750 resistance zone. ETH therefore gained momentum after breaking through the $ 3.800 resistance zone and the 100-hour simple moving average. There was therefore a break above a key contract triangle forming with resistance near $ 3.820 on the ETH / USD hourly chart. The pair also broke above $ 3.880, but there was no continuation to the upside above $ 3.920. It has formed a high near $ 3.900, with the currency now consolidating gains.
Now ETH is traded above $ 3.800 and the 100-hour simple moving average. Immediate upside resistance is near the $ 3.880 level, while the main resistance is located near the $ 3.900 level, above which the price could start a new rally.
The next key resistance is near the $ 3.920 level. Any other gains could increase the chances of a move above the $ 4.000 level and, most importantly, the test to the $ 4.120 resistance.
If, on the other hand, Ethereum fails to continue to rise above the resistance levels of $ 3.880 and $ 3.900, a new downward correction could begin, with tests at the first support of $ 3.820. The next key support is near $ 3.750.