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The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/ethereums-bull-flag-points-to-4k-analysts-remain-cautious/" rel="noopener noreferrer nofollow">Ethereum&#39;s Bull Flag Points to $4K: Analysts Remain Cautious</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.Ethereum price is moving higher above the $3,600 zone. ETH is showing bullish signs and might soon aim for a move above the $3,800 resistance zone.<ul><li>Ethereum started a decent increase from the $3,550 zone.</li><li>The price is trading above $3,550 and the 100-hourly Simple Moving Average.</li><li>There is a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH/USD (data feed via Kraken).</li><li>The pair could restart its increase if it clears the $3,750 zone.</li></ul><h2 id="header-0">Ethereum Price Eyes Steady Increase</h2><a href="https://cryptosnewss.com/category/ethereum-news/" rel="noopener noreferrer nofollow">Ethereum</a> price remained supported above $3,350 and started a fresh increase like Bitcoin. ETH was able to surpass the $3,450 and $3,550 resistance levels.The bulls pumped the price above the $3,700 level. A high was formed at $3,748 and the price is now consolidating gains. There was a minor decline below the $3,720 level. The price dipped and tested the 23.6% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high.<a href="https://cryptosnewss.com/ethereum-surges-past-3700-market-optimism-grows/" rel="noopener noreferrer nofollow">Ethereum price</a> is now trading above $3,550 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH/USD.On the upside, the price seems to be facing hurdles near the $3,740 level. The first major resistance is near the $3,750 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,940 resistance zone or even $4,000.<h2 id="header-1">Downside Correction In ETH?</h2>If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,700 level. The first major support sits near the $3,675 zone.A clear move below the $3,675 support might push the price toward the 61.8% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high at $3,640. Any more losses might send the price toward the $3,570 support level in the near term. The next key support sits at $3,550.Technical IndicatorsHourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.Hourly RSI – The RSI for ETH/USD is now above the 50 zone.Major Support Level – $3,700Major Resistance Level – $3,750The post <a href="https://cryptosnewss.com/ethereums-bull-flag-points-to-4k-analysts-remain-cautious/" rel="noopener noreferrer nofollow">Ethereum&#39;s Bull Flag Points to $4K: Analysts Remain Cautious</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Ethereum's Bull Flag Points to $4K: Analysts Remain Cautious

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