Today on Friday, Ethereum (ETH) is trading at price support near to $3800 USD, despite a small drop in the cryptocurrency market.
Other popular cryptocurrencies such as Dogecoin (DOGE), Ethereum Classic (ETC), and Litecoin (LTC) have pushed Ethereum down. At the time of publication, Ethereum was trading at $3,780.75, up 1.17 percent.
Ethereum Price Chart – Source – CoinMarketCap
Ethereum has been in a tight battle with the opposition, but it had a good day on Friday. Crypto trades in a rising triangle pattern, as defined by tech traders.
On the ETH chart, the $4,000 level has become a point of contention. This has been the area where cryptocurrency has struggled to collapse in the past. The high-speed line was in another place where crypto has already found acceptance and may continue to do so in the future.
Crystals traded above both the 50-day and 200-day moving averages, indicating that the cryptocurrency is now bullish. Each of these moving averages can provide future support.
For the past two weeks, the Relative Strength Index (RSI) has been on the sidelines, and it is now at 55. This indicates that the stock is under more pressure to purchase than to sell.
Ethereum is expected to continue to rise and eventually break through the $4,000 obstacle, according to smart traders. The bulls will next look for a period of consolidation over $4,000 in order to find another positive advance.
Bearish traders expect ETH to retrace its steps down the top line, break below it, and then catch under the trend line. This may result in trend shifts and long-term startup opportunities.