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Ethereum Price Prediction – A Move Through to $4,650 Would Bring $4,800 Levels into Play

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Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

The Morning Session

At the time of writing, Ethereum was up by 1.50% to $4,582.

A mixed start to the day saw Ethereum fall to an early morning low $4,474 before rising to a high $4,621.

While steering clear of the first major support level at $4,421, Ethereum tested the first major resistance level at $4,623 before easing back to sub-$4,600 levels.

Key through the late morning was avoiding a fall back through the day’s $4,529 pivot.

For the Afternoon Ahead

Ethereum would need to avoid a fall back through the $4,529 pivot to bring the first major resistance level at $4,623 back into play. Plenty of support would be needed, however, for Ethereum to break back through to $4,600 levels.

Barring an extended crypto rally through the afternoon, the first major resistance level and Thursday’s high $4,637 would likely cap the upside. In the event of a breakout, however, Ethereum should test the ATH $4,868. The second major resistance level sits at $4,731.

A fall back through the $4,529 pivot would bring the first major support level at $4,421 into play. Barring an extended sell-off through the afternoon, however, Ethereum should steer clear of sub-$4,300 levels. The second major support level at $4,327 should limit the downside.

Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs in the late morning. We also saw the 100 pull away marginally from the 200 EMA, delivering further support.

Through the 2nd half of the day, a widening of the 50 from the 100 and 200 EMA would bring $4,800 levels into play.

Key through the early afternoon would be to move through to $4,650 levels to bring $4,800 levels into play.

This article was originally posted on FX Empire

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