- The $3,850 resistance level was breached once again by Ethereum.
- The $3,850 mark will act as an instant roadblock.
Against the US dollar, Ethereum is maintaining gains over the $3,800 mark. The price of ETH is now hovering around $3,880, but if the bulls are unable to hold around $3,680, the rally might pick up speed. The $3,850 resistance level was breached once again by Ethereum. However, there was no further rise in the price of ETH over $3,880. A peak was established at $3,891 before a lower correction occurred.
The price fell below $3,850 and $3,820. In addition, the price fell below the 50% Fib retracement line of the rise from the swing low of $3,681 to the high of $3,891. However, the bulls were aggressive, around $3,750 and the 100-hour SMA.
$3880- The Crucial Level
The $3,850 mark will act as an instant roadblock. The $3,880 mark will be the next significant hurdle to overcome. If the price rises beyond the $3,880 mark, we might see a spike to the $4,000 mark. The price might reach $4,120 if increases continue. The $4,250 threshold is the next major hurdle. Ethereum’s price might fall further if it fails to break above the $3.850 barrier. The $3,800 level serves as an early resistance level on the downside.
The $3,740 level has been the first significant level of support. The $3,740 level might serve as a crucial support level for the short future if the price breaks below it. The $3,600 level is the next significant support level. Despite this, ethereum’s price is expected to rise to $5,000 in the first quarter of 2022, as other indications seem to indicate a positive bias.
According to CoinMarketCap, the Ethereum price today is $3,818.94 USD with a 24-hour trading volume of $13,881,445,379 USD. Ethereum is up 1.72% in the last 24 hours.
A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.