TA: Ethereum Smashes $4K, Why ETH Is Not Done Yet

Ethereum extended its rally and it traded to a new all-time high above $4,000 against the US Dollar. ETH price is showing a lot of positive signs and it is likely to climb above $4,100.

Ethereum extended its rally above $3,900 and it traded to a new all-time high near $4,030.
The price is now trading well above $3,950 and the 100 hourly simple moving average.
There is a crucial bullish trend line forming with support near $3,920 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to continue higher towards the $4,100 and $4,150 resistance levels.

Ethereum Price Rallies Further
Ethereum remained well supported above the $3,750 zone. The last swing low was formed near $3,722 before ETH price started a fresh increase. It outpaced bitcoin and it broke the $3,900 resistance to start a fresh rally.
It even climbed above the $3,950 level and a connecting bearish trend line on the hourly chart. The pair extended its rally above $4,000 and it traded to a new all-time high near $4,030. Ether price is now trading well above $3,950 and the 100 hourly simple moving average.
The current price action is very positive, with an immediate resistance at $4,050. It is close to the 1.236 Fib extension level of the downward move from the $3,985 high to $3,722 low.

Source: ETHUSD on TradingView.com
The first major resistance is near the $4,150 level. It represents the 1.618 Fib extension level of the downward move from the $3,985 high to $3,722 low. Any more gains could set the pace for a strong upward move towards the $4,200 and $4,250 levels in the near term. The next major stop for the bulls may possibly be $4,500.
Dips Supported in ETH?
If Ethereum fails to continue higher towards $4,150, it could start a downside correction. An initial support on the downside is near the $3,950 level.
The first key support is near the $3,920 level. There is also a crucial bullish trend line forming with support near $3,920 on the hourly chart of ETH/USD. If there is a downside break below the trend line, the pair could dive towards the $3,800 support zone.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is well above the 60 level.
Major Support Level – $3,920
Major Resistance Level – $4,150

bitcoin
Bitcoin (BTC) $ 16,996.44
ethereum
Ethereum (ETH) $ 1,271.42
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 292.16
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.396226
dogecoin
Dogecoin (DOGE) $ 0.102298
cardano
Cardano (ADA) $ 0.325154
matic-network
Polygon (MATIC) $ 0.920205
polkadot
Polkadot (DOT) $ 5.56
staked-ether
Lido Staked Ether (STETH) $ 1,257.11
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 21.97
litecoin
Litecoin (LTC) $ 76.36
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.054142
solana
Solana (SOL) $ 13.55
uniswap
Uniswap (UNI) $ 6.15
avalanche-2
Avalanche (AVAX) $ 13.76
chainlink
Chainlink (LINK) $ 7.38
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,959.87
leo-token
LEO Token (LEO) $ 3.80
cosmos
Cosmos Hub (ATOM) $ 10.27
ethereum-classic
Ethereum Classic (ETC) $ 19.61
monero
Monero (XMR) $ 147.25
the-open-network
The Open Network (TON) $ 1.80
stellar
Stellar (XLM) $ 0.087709
bitcoin-cash
Bitcoin Cash (BCH) $ 111.71
quant-network
Quant (QNT) $ 130.86
algorand
Algorand (ALGO) $ 0.241085
crypto-com-chain
Cronos (CRO) $ 0.064392
filecoin
Filecoin (FIL) $ 4.52
apecoin
ApeCoin (APE) $ 3.96
near
NEAR Protocol (NEAR) $ 1.71
vechain
VeChain (VET) $ 0.019427
hedera-hashgraph
Hedera (HBAR) $ 0.048224
internet-computer
Internet Computer (ICP) $ 4.21
flow
Flow (FLOW) $ 1.10
terra-luna
Terra Luna Classic (LUNC) $ 0.000181
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 44.13
frax
Frax (FRAX) $ 0.999945
eos
EOS (EOS) $ 0.932148
trust-wallet-token
Trust Wallet (TWT) $ 2.42
tezos
Tezos (XTZ) $ 1.02
the-sandbox
The Sandbox (SAND) $ 0.590428
aave
Aave (AAVE) $ 63.94
theta-token
Theta Network (THETA) $ 0.898836
chiliz
Chiliz (CHZ) $ 0.169153
huobi-token
Huobi (HT) $ 6.78