Ethereum Price Prediction – Bulls Target a Run at $4,700. Avoiding sub-$4,250 Key…

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

The Morning Session

At the time of writing, Ethereum was up by 0.81% to $4,390.

A mixed start to the day saw Ethereum fall to an early low $4,312 before making a move. Steering clear of the first major support level at $4,051, Ethereum rose to a late morning high $4,432.

Falling well short of the first major resistance level at $4,519, however, Ethereum slipped back to sub-$4,400 levels.

Key through the late morning was a avoiding a fall through the day’s $4,216 pivot.

For the Afternoon Ahead

Ethereum would need to avoid the $4,216 pivot to bring the first major resistance level at $4,519 into play. Plenty of support would be needed, however, for Ethereum to break out from this morning’s high $4,432.

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 $4,684.

A fall through the $4,216 pivot would bring the first major support level at $4,051 into play. Barring an extended sell-off, however, Ethereum should continue to avoid sub-$3,900 levels. The second major support level sits at $3,748.

Looking beyond the support and resistance levels, we saw the 50 EMA converge on the 100 EMA and narrow on the 200 EMA through the morning. We also saw the 100 narrow on the 200 EMA, delivering further support.

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

Key through the early afternoon would be to avoid the $4,216 pivot and return to $4,400 levels.