Technically, the 4-hour chart indicators are about to move above their neutral levels into the bullish territory.
Ether to Gain Momentum?
There were mostly bullish moves in ETH/USD during the past three sessions. The pair corrected a few points but remained well bid around the $800.00 support area.
On the other hand, ETH/BTC has started a downward correction below 0.1000BTC. The pair is moving lower toward the 0.0905BTC support, which is a decent buy zone.
Looking at the 4-hour chart of ETH/USD, the pair formed a base near $550.00 and started an upward move. It broke the 23.6 percent Fibonacci retracement level of the last crucial decline from the $1,238.92 high to $564.11 low.
Ether buyers were successful in pushing the price above the $750.00 and $800.00 resistance levels. At present, the pair is attempting a break above a bearish trendline at $820.00 on the same chart.
Should there be a 4-hour close above $820.00, the price could continue to climb toward the next bearish trendline with current resistance at $960.00. An intermediate resistance is $900.00 and the 50 percent Fibonacci retracement level of the previously mentioned decline.
Moving down to the 30-minute chart of ETH/USD, the pair is facing a resistance near $830.00-$850.00. A successful close above these levels could open the doors for a push toward $900.00 and $960.00.
While there's an initial support at $800.00, the most important support sits at $750.00. The overall bias is bullish and Ether will most likely continue to move higher.