Ethereum has experienced price fluctuations between $3,785 and $3,816 in the past hour, with a range of $3,746 to $3,837 over the last 24 hours. The cryptocurrency currently has a market capitalization of $458 billion and a 24-hour trade volume of $10.75 billion.
Looking at the 1-hour chart, ethereum has strong support at $3,750 and resistance at $3,842. The recent increase in volume during a significant upswing indicates a high level of buying interest. The price of ether has been moving between $3,750 and $3,840, with a slight pullback from the resistance at $3,842.5, suggesting a possible retracement.
On the 4-hour chart, there is broader support at $3,700 and resistance at $3,885. The lower trading activity, as shown by the relatively lower volume compared to the 1-hour chart, indicates a decrease in trading. The price has been moving upward from the support at $3,700 to the resistance at $3,885, consolidating within the $3,800-$3,840 range.
The daily chart reveals a strong support level at $2,813 and resistance at $3,980. Volume spikes during significant price movements highlight the rally from the support at $2,813.4. Overall, there has been a bullish trend, with a notable uptrend from $2,813 to around $3,980. The recent consolidation below $3,980 suggests the potential for either continuation or reversal.
The oscillators present a mixed yet slightly bullish picture. The relative strength index (RSI) is at 64.9 and the Stochastic is at 75.0, indicating neutral conditions. The commodity channel index (CCI) is at 52.2 and the average directional index is at 41.7, also remaining neutral. However, the momentum is at 85.7 and the moving average convergence divergence (MACD) level is at 170.2, both suggesting a bullish signal with positive momentum and the potential for further price increases.
All moving averages (MAs) indicate optimism and support the bullish trend. The exponential moving average (EMA-10) is at $3,752 and the simple moving average (SMA-10) is at $3,797, both supporting short-term bullish sentiment. Additionally, the EMAs (20, 30, 50, 100, 200) and the SMAs (20, 30, 50, 100, 200) consistently indicate buy signals across different time frames, further reinforcing the positive outlook for ethereum.
In conclusion, based on technical analysis, ethereum is showing a strong bullish trend supported by critical moving averages and key support and resistance levels. Positive momentum indicated by the MACD and momentum oscillators, along with buy signals across all MAs, suggests the potential for continued upward movement. However, caution is advised due to neutral readings from some oscillators and recent consolidation below resistance levels. Monitoring these signals and setting stop-losses is recommended to mitigate downside risk.