2021-12-16 12:10:49

Ethereum Price Predication – A Move Through to $4,100 Would Bring $4,300 Levels into Play

This is the mid-session tech analysis for Ethereum (ETH). We will be looking at movements through the morning session and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the EMAs and the key levels for the 2nd half of the day.

The Morning Session

At the time of writing, Ethereum (ETH) was up by 1.34% to $4,075.

A mixed start to the day saw Ethereum fall to a mid-morning low $3,980. Steering clear of the first major support level at $3,744 and the 23.6% FIB of $3,738, Ethereum rose to a late morning high $4,087.

In spite of the late morning rally, Ethereum fell well short of the first major resistance level at $4,198.

Key through the morning, however, was avoiding the day’s $3,921 pivot and bouncing back to $4,000 levels.

For the Afternoon Ahead

Ethereum would need to avoid a fall through the $3,921 pivot to bring the first major resistance level at $4,198 into play. Plenty of support would be needed, however, for Ethereum to break out from the Wednesday’s high $4,097.

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 could test the second major resistance level at $4,374.

A fall through the $3,921 pivot would bring the first major support level at $3,744 and the 23.6% FIB of $3,738 into play. Barring an extended sell-off, however, Ethereum should avoid sub-$3,600 levels. The second major support level sits at $3,467.

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

Through the 2nd half of the day, a bullish cross of the 50 on the 100 would bring $4,300 levels into play.

For the bulls, avoiding a fall through the day’s $3,921 pivot would be needed, however, to support a bullish afternoon.

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