Ethereum (ETH) Price Prediction – A Move Back Through to $4,400 Would Gives the Bulls a Look at $4,700

This is the mid-session tech analysis for Ethereum. We will be looking at movements through the morning session and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the EMAs and the key levels for the 2^nd half of the day.

The Morning Session

At the time of writing, Ethereum was down by 3.10% to $4,303.

A mixed start to the day saw Ethereum rose to an early morning high $4,491 before hitting reverse. Falling short of the first major resistance level at $4,522, Ethereum slid to a late morning low $4,275. Finding support at the first major support level at $4,293, however, Ethereum moved back through to $4,300 levels.

Key through the late morning was a avoiding a fall through to sub-$4,250 levels.

For the Afternoon Ahead

Ethereum would need to move back through the $4,375 pivot to bring the first major resistance level at $4,522 back into play. Plenty of support would be needed, however, for Ethereum to break out from this morning’s high $4,491.

Barring an extended crypto rally through the afternoon, the first major resistance level would likely cap the upside. In the event of a breakout, however, Ethereum should test resistance at $4,700 levels. The second major resistance level sits at $4,604.

Failure to move back through the $4,375 pivot would bring the first major support level at $4,293 back into play. Barring an extended sell-off, however, Ethereum should avoid sub-$4,200 levels. The second major support level sits at $4,145.

Looking beyond the support and resistance levels, we saw a bullish cross early on, with the 100 EMA crossing through the 200 EMA. Through the late morning, however, the 50 narrowed on the 50, with the 100 converging back on the 200 EMA, supporting the late morning pullback.

Through the 2^nd half of the day, avoiding a bearish cross of the 100 back through the 200 would bring $4,500 levels into play. A widening of the 50 from the 100 would give the bulls a run at $4,700 levels.

Key through the early afternoon would be to move back through the $4,375 pivot and return to $4,400 levels.

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