Ethereum (ETH) Price Analysis: Ether Surges Ahead as Bulls Gain More Grounds

Highlights
Ethereum rebounds, breaks above the moving averages
Ether revisits its previous high of $4,820

Ethereum ETH) Current Statistics
The current price: $4,692.36
Market Capitalization: $556,339,223,220
Trading Volume: $28,885,870,161
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis December 1, 2021
Ethereum’s (ETH) price has regained bullish momentum as Ether broke above the moving averages. With the current uptrend, the biggest altcoin is likely to revisit the previous high of $4,820. If bulls broke the previous high, Ether will rally to $5,000. ETH/USD has reached $4,781 at the time of rising. The uptrend is facing resistance at the recent high as the market reaches the overbought region.

ETH Technical Indicators Reading
Ethereum is at level 58 of the Relative Strength Index for period 14. The biggest altcoin is now in the bullish trend zone and capable of further upsides. Ether price bars are above the moving averages which indicate a possible rise of the coin. Ethereum is above 80% area of the daily stochastic. The altcoin has reached an overbought region of the market. Sellers are likely to emerge in the overbought region.

Conclusion
On the 4 hour chart, Ethereum is in an upward move. The altcoin has broken above the moving averages. Meanwhile, on November 30 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Ether will rise to level 1.272 Fibonacci extensions or $4,964.35.

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