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Ethereum Price Blasted Past $4,000; Bulls Target Closing The Distance To ATH At $4,400


coingape.com 21 October 2021 04:29, UTC
Reading time: ~2 m

  • Ethereum is on the final approach to $4,400 after bringing down the barrier at $4,000.
  • The SuperTrend and the MACD indicators sustain buy signals as buyers flock to the market.

The cryptocurrency market is currently shining a light on the altcoins following weeks where Bitcoin has solely rallied to higher levels. Ethereum appears to be leading the pack after making a comeback above $4,000.

Ether is not the only altcoin on the upward roll because Solana trades at $183 at writing after rallying nearly 17% in 24 hours. Other double-digit gainers include Litecoin and OKB with 10 and 18.5%, respectively. Most altcoins are posting considerable double-digit gains.

Ethereum Price On The Home Stretch To $4,400

While Ether has kept the uptrend intact over the last couple of weeks, it has not made it to $4,000 until now. Altcoins mainly experienced the challenge because Bitcoin continued to shake the ground for new levels. At the moment, BTC is trading within an inch of the all-time highs.

Ethereum has come a long way in the last 24 hours, first defending support at $3,800 and later lifting beyond the critical supply zone marked in red. The second-largest cryptocurrency trades around $4,160 at writing, while bulls look toward the record high achieved at $4,400 in May.

ETH/USD Daily Chart

ETH/USD price chart

Meanwhile, the technical picture is strongly bullish based on the Moving Average Convergence Divergence (MACD) indicator and the Relative Strength Index (RSI). The latter recently crossed above the mean line; simultaneously, it sustained a buy signal since late September.

The RSI affirms the growing bullish grip on ETH, and as it moves into the overbought region, more buy orders are anticipated. Another buy signal from the SuperTrend indicator emphasizes the bulls’ influence, thus propping Ethereum for the ultimate breakout to $4,400.

Ethereum Price Intraday Levels

Spot rate: $4,177

Trend: Strongly Bullish

Support: $4,000

Resistance: $4,400

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