ETHUSD long view

ETHUSD long view

The price of Ethereum is currently recording its new historical high at $ 4482.71. Positive consolidation above $ 4200 and moving averages helped Ethereum and pushed the price to new historic levels.
Bullish scenario:
• The price should stay above MA20 and MA50 to stay in the bullish trend .
• Our potential resistance is now a $ 4500 zone that could be psychological resistance.
• If there is a break above the price, it will create a new historical high. our targets are $ 4600, $ 4700.
Bearish scenario:
• We need to pull the price from the current level to $ 4300, to test the MA20 moving average.
• The break below the descent takes us into the $ 4200 zone, approaching the MA50 moving average at $ 4100.
• Our next lower support is $ 4000 psychological level, then $ 3900 previous higher low.