Ethereum Price Prediction – Bears Eye sub-$3,900. U.S Inflation Will Be Key…

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 (ETH) was up by 1.25% to $4,157.

A mixed start to the day saw Ethereum rise to an early morning high $4,199 before hitting reverse. Falling short of the first major resistance level at $4,373, Ethereum slid to a late morning low $4,021. Steering clear of the first major support level at $3,958, however, Ethereum moved back through to $4,150 levels.

Key through the late morning was avoiding a fall through to sub-$4,000 levels.

For the Afternoon Ahead

Ethereum would need to move through the $4,224 pivot to bring the first major resistance level at $4,373 back into play. Plenty of support would be needed, however, for Ethereum to break out from this morning’s high $4,199.

Barring an extended crypto rally through the afternoon, the first major resistance level and resistance at $4,400 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 $4,639. Ethereum would need plenty of support, however, to breakout from Thursday’s high $4,491.

Failure to move through the $4,224 pivot would bring the first major support level at $3,958 back into play. Barring an extended sell-off, however, Ethereum should avoid sub-$3,850 levels. The second major support level sits at $3,810.

Looking beyond the support and resistance levels, we saw the 50 EMA pullback from the 100 200 EMAs. We also saw the 100 EMA pullback from the 200 after yesterday’s bearish cross, delivering further downward pressure.

Through the 2^nd half of the day, a continued pullback of the 50 from the 100 would give the bears a look at sub-$3,900 levels.

For the bulls, a move back through to $4,250 would be needed to avoid another day in the deep red.

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