#ETHRally The infusion of institutional money continues, and will continue. But, what’s next for ETH prices?
After bouncing back from the support of $3,470 last week, ETH has risen approximately 15% to surpass $4,000, now facing its next challenge: the heavy selling zone around $4,100, which also coincides with a long-term trend line from the all-time high in November 2021.
ETHUSDT
Perp.
4,719.99
+2.16%
If SETH can surpass this level, we could see it attempt to reach $4,500 before trying to retest its record of $4,868.
On the other hand, the bulls need to protect the floor of $3,470. A weekly close below this level carries the risk of a drop to $3,220 and if this level fails, the psychological level of $3,000 comes into play.
The momentum indicators are showing strong bullishness, the RSI is hovering near the overbought line, and the Stochastic Oscillator has been in overbought territory since June.
After bouncing back from the support of $3,470 last week, ETH has risen approximately 15% to surpass $4,000, now facing its next challenge: the heavy selling zone around $4,100, which also coincides with a long-term trend line from the all-time high in November 2021.
ETHUSDT
Perp.
4,719.99
+2.16%
If SETH can surpass this level, we could see it attempt to reach $4,500 before trying to retest its record of $4,868.
On the other hand, the bulls need to protect the floor of $3,470. A weekly close below this level carries the risk of a drop to $3,220 and if this level fails, the psychological level of $3,000 comes into play.
The momentum indicators are showing strong bullishness, the RSI is hovering near the overbought line, and the Stochastic Oscillator has been in overbought territory since June.