The Ethereum price broke out bullish at first, but then missed its all-time high by around 10%. Will Ethereum rise above $ 4,400 this year?
The Ethereum price only reached around $ 4,000
Initially, the Ethereum price broke out bullishly when it left the golden ratio at USD 3,300 behind. However, it was not able to reach the all-time high of just under USD 4,400 afterwards, but only rose around USD 4,000. However, the EMAs are still bullishly crossed and Ethereum only returned to the 0.382 Fib level, where it found strong support. The 50-day EMA is currently serving as a support and if Ethereum stays above USD 2,500, the chances are good that Ethereum will reach a new all-time high this year.
The Ethereum course was rejected at the resistance
The strong bearish rejection at the horizontal resistance between USD 3,950 – 4,380 did result in a strong sell-off in the short term, but Ethereum could soon maneuver up again. However, if it stays at the current “lower high”, Ethereum could even return to the 50-week EMA at around USD 2,000, or even to the horizontal support at USD 1,700.
However, if Ethereum stays above USD 2,500, the trend is still bullish. This could bring the price target of around USD 6,000 closer. Before that, however, Ethereum must first overcome the all-inclusive high of around USD 4,400.
The long-term trend remains bullish
In the long-term trend, the Ethereum price is still extremely bullish. The bullish price targets are around USD 6,000 and around USD 11,500. In the event of an apocalyptic sell-off, Ethereum will find support between the 50-month EMA at just under USD 930 and the historical price level at USD 1,130 at the latest.
Against Bitcoin, Ethereum was bearishly rejected
Against Bitcoin, Ethereum formed the second “lower high” in a row since the all-time high in 2017. Because ETH / BTC was rejected at the golden ratio at 0.0825 BTC and if this price level is not exceeded, the trend of ETH / BTC remains bearish . After all, the ETH / BTC price has so far been able to find support at the 0.382 Fib level at around 0.058 BTC. If Ethereum stays above this price level and breaks the golden ratio at 0.0825 BTC, it could return to its all-time high at 0.156 BTC. Otherwise it will find its next support at around 0.04 BTC, because there the 50-month EMA is waiting for the ETH / BTC rate.
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