Ethereum (ETH) Price Analysis: Ether Surges Ahead, Attempts to Break Above the $4,000 High

Highlights
Ethereum price rallies to $3,964 high
Ether in an upward move, targets $4,200 high

Ethereum ETH) Current Statistics
The current price: $3,897.10
Market Capitalization: $459,590,834,865
Trading Volume: $15,001,083,967
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis October 17, 2021
Ethereum’s (ETH) price has continued to rally on the upside. On October 16, Ether rallied to $3,964 but was resisted. Buyers are attempting to break above the $4,000 resistance zone. Ether is consolidating below the $4,000 resistance zone. The upward move is facing rejection at the recent high. On the upside, a break above the resistance will catapult the altcoin to $4,200 high but it will face stiff resistance at the recent high.

ETH Technical Indicators Reading
Ether is at level 65 of the Relative Strength index period 14. The cryptocurrency is in the bullish trend zone and capable of a further upward move. The biggest altcoin is above the 25% range of the daily stochastic. The market is in a bullish momentum. The crypto’s price is still above the moving averages which suggest further upside.

Conclusion
On the 4-hour chart, Ethereum is in an upward move. Ether rallied to $3,964 but was repelled. Buyers are making another attempt at the resistance zone. Meanwhile, on October 16 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Ether will rise but will reverse at level 1.272 Fibonacci extension or level $4,116.73.

You can purchase crypto coins here. Buy Tokens

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing