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Can Ethereum stay above the important Fib level?



Does a weekly close follow for the Ethereum price above the important Fibonacci support at around USD 4,000?


Ethereum could close above the Fib level this week

The Ethereum price is currently bouncing off the Fib support at around USD 4,000 and if Ethereum does not drop suddenly today, it could close above this level this week. Then there would be courage to hope that Ethereum is on the way to the next resistance at just under 4,400 USD. On the other hand, the MACD lines are on the verge of a bearish crossover and the histogram is falling bearishly lower. There might actually be only a small upward move, or Ethereum may break through the support at around USD 4,000. Then find EthereumAt the latest at USD 3,600 strong support and at the latest at around USD 3,000, several important supports are waiting for the Ethereum course.


Ethereum price could also close above Fib support in November

The Ethereum price could actually close in the monthly chart above the Fib level at around 4,000 USD, because there are only a few days left until the end of the month. The MACD's histogram is rather bearish this month. Whether the Ethereum price will drop to USD 3,000 in December or head towards the USD 6,000 mark is still in the stars. Ultimately, the Ethereum price is still in the middle of a correction phase, in which there is only the chance that it will be mild. So the short-term trend is bearish, with bullish opportunities.


Despite a strong sell-off two days ago, Fib support remained stable

So far, the price level of USD 4,000 has held steady and has stood up to the Ethereum bears. Whether it stays that way will be decided in the next few days. The MACD is clearly bearish and the 50-day EMA support has also already been broken. If Ethereum stays above the $ 4,000 mark, things are looking good. Otherwise, you should be prepared for USD 3,600 and USD 3,000 respectively.


Is the Ethereum rate now rising for a short time?

In the 4H chart, however, the MACD is bullish, but a death cross of the EMAs established itself. Therefore, the trend is bearishly confirmed in the short to medium term, but Ethereum could still bounce off the Fib support at around USD 4,000. Should this happen, the ETH price will find its next resistance at USD 4,400.

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