It’s been a mixed morning for Ethereum.
At the time of writing, Ethereum, BTC to USD, was down by 0.11% to $4,589.88.
A mixed start to the day saw Ethereum rise to an early morning high and a new ATH $4,643.90 before hitting reverse.
Falling short of the first major resistance level at $4,704, Ethereum fell to a mid-morning low $4,539.12.
Steering well clear of the first major support level at $4,387, however, Ethereum revisited $4,600 levels before easing back.
For the Afternoon Ahead
Ethereum would need to avoid a fall through the $4,496 pivot to bring the first major resistance level at $4,704 into play.
Support from the broader market will be needed, however, for Ethereum to breakout from $4,650 levels.
Barring an extended crypto rally, the first major resistance at $4,704 would likely cap any upside.
In the event of another extended rally through the afternoon, Ethereum could test resistance at $5,000 before any pullback. The second major resistance level sits at $4,813.
A fall through the $4,496 pivot would bring the first major support level at $4,387 into play.
Barring an extended sell-off through the afternoon, however, Ethereum should steer clear of sub-$4,200 levels.
The second major support level sits at $4,178.
Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs this morning. We also saw the 100 EMA pull away from the 200 EMA.
Through the 2nd half of the day, a further widening of the 50 EMA from the 100 and 200 would bring $5,000 levels into play.
Key through the late morning and early afternoon, however, would be to avoid sub-$4,500 levels.
This article was originally posted on FX Empire
