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TA: Ethereum Breaking This Barrier Could Spark a Significant Surge

Ethereum remained supported above the $3,650 zone against the US Dollar. ETH must clear the $3,850 and $3,900 resistance levels to continue higher in the near term.

  • Ethereum started a fresh increase above the $3,700 and $3,750 resistance levels.
  • The price is now trading above $3,800 and the 100 hourly simple moving average.
  • There is a major contracting triangle forming with resistance near $3,840 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh rally if it clears the key $3,920 resistance zone.

Ethereum Price Remains Supported

Ethereum started a downside correction after it failed to stay above the $3,900 zone. ETH declined below the $3,800 support zone and the 100 hourly simple moving average.

The price even spiked below the $3,750 support zone. A low was formed near $3,678 and the price is now rising. It broke the $3,780 resistance zone. There was a break above the 50% Fib retracement level of the recent drop from the $3,893 swing high to $3,678 low.

Ether is now trading above $3,800 and the 100 hourly simple moving average. The price is now testing the 61.8% Fib retracement level of the recent drop from the $3,893 swing high to $3,678 low. There is also a major contracting triangle forming with resistance near $3,840 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,840 level. The next major resistance is near the $3,920 level, above which the price might start a fresh rally. In the stated case, the price could attempt a clear break above the $4,000 resistance zone. The next major support sits near the $4,120 level.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,840 and $3,920 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,780 level and the 100 hourly SMA.

The first key support is now forming near the $3,720 level and the triangle lower trend line. If there is a downside break below the $3,720 support, the price could decline further. The next key support is near $3,650.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,720

Major Resistance Level – $3,920

Bitcoin Cash Price Prediction: BCH/USD Price Dips Below $500 Support

Bitcoin Cash Price Prediction – December 4 The Bitcoin Cash price prediction shows BCH plunging below the support of $480 as the coin ready for more downtrends. BCH/USD Market Key Levels: Resistance levels: $580, $600, $620 Support levels: $300, $280, $260 BCHUSD – Daily Chart Buy Bitcoin Cash Now BCH/USD is currently following a downtrend::Listen

Bitcoin Cash Price Prediction – December 4

The Bitcoin Cash price prediction shows BCH plunging below the support of $480 as the coin ready for more downtrends.

BCH/USD Market

Key Levels:

Resistance levels: $580, $600, $620

Support levels: $300, $280, $260

Bitcoin Cash Prediction
BCHUSD – Daily Chart

BCH/USD is currently following a downtrend as the bears dominate the entire crypto market. At the time of writing, BCH/USD is hovering around the lower boundary of the channel after crossing below this channel during the European session today as the trend has a bearish inclination touching the support at $475. However, the technical indicator has remained bearish as the Relative Strength Index (14) aims to cross into the oversold region.

Bitcoin Cash Price Prediction: BCH Price Likely to Dig Dip

Looking at the daily chart, the Bitcoin Cash price is currently facing the downtrend while the bulls are making an attempt to defend the support level of $475 and focus on pulling towards the $500 level. However, BCH/USD is making an effort to push the price back above the lower boundary of the channel and it is also looking forward to reclaiming the ground past $530.

Meanwhile, if there is an increase in buying pressure, the price is likely to break above the 9-day and 21-day moving averages to reach the nearest resistance at $550. While trading at that level, a bullish continuation could reach the resistance levels of $580, $600, and $620 respectively. On the contrary, if the coin continues with the bearish movement, it may likely hit the supports at $300, $280, and $260 levels.

By comparing it with Bitcoin, the bears are seen keeping the price under the 9-day and 21-day moving averages. Meanwhile, according to the recent negative signs, the trend may continue to follow the downtrend in as much as the buyers failed to bring the price back above the upper boundary of the channel.

BCHBTC – Daily Chart

However, as the technical indicator Relative Strength Index (14) prepares to slide below 40-level, any further downtrend could lower the price to the support level of 850 SAT and below, but once it moves out of this zone, the market price may likely begin an upward trend to push the coin towards the resistance level of 1100 SAT and above.

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TA: Ethereum Breaking This Barrier Could Spark a Significant Surge

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