Ethereum Price Prediction – A Range-Bound Morning Leaves $5,000 on the Table

At the time of writing, Ethereum, ETH to USD, was down by 0.56% to $4,785.10.

A mixed start to the day saw Ethereum fall to an early morning low $4,777.27 before making a move.

Steering clear of the first major support level at $4,677, Ethereum rose to a mid-morning new ATH $4,842.54.

Falling short of the first major resistance level at $4,886, however, Ethereum eased back to sub-$4,800 levels.

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For the Afternoon Ahead

Ethereum would need to avoid the $4,751 pivot to take another run at the first major resistance level at $4,886.

Plenty of support would be needed, however, for Ethereum to breakout from this morning’s ATH $4,842.54.

Barring an extended crypto rally through the afternoon, the first major resistance level at $4,886 and resistance at $5,000 would likely cap the upside.

The second major resistance level sits at $4,960.

In the event of another extended rally through the afternoon, Ethereum could test the third major resistance level at $5,168.

A fall through the $4,751 pivot would bring the first major support level at $4,677 into play.

Barring an extended sell-off through the afternoon, however, Ethereum should steer clear of sub-$4,500 levels.

The second major support level at $4,543 should limit the downside.

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

Through the 2^nd half of the day, a further widening of the 50 EMA from the 100 and 200 would bring $5,000 levels into play.

Key through the late morning and early afternoon, however, would be to move back through the morning ATH4,842.54.

A fall through to sub-$4,750 levels could bring sub-$4,600 support levels into play…