Technically, the 4-hour chart indicators are rising higher into the bullish territory.
Ether's Price Remains Supported on the Downside
Yesterday, we discussed how ETH/USD is poised to challenge the $900.00 level. The pair did move higher, broke the $840.00-850.00 resistance, and is testing the $900.00 region.
On the other hand, there was no major move in ETH/BTC. The pair is currently consolidating above the 0.1000BTC level and is preparing for the next move.
Looking at the hourly chart of ETH/USD, the pair surged higher and broke a few important resistance levels: $830.00, $840.00 and $850.00. It opened the doors for more gains and the pair surged to $900.00.
It seems like the pair is forming a crucial uptrend and it could continue to move higher toward $1,000.00. On the downside, an initial support is a bullish trendline on the same chart at $880.00. Below $880.00, the previous resistance at $850.00 would be likely to act as a strong support.
Moving up to the 4-hour chart of ETH/USD, there is a major bearish trendline forming with resistance near $900.00-920.00. The $900.00 level is acting as a key resistance, since it is the 50 percent Fibonacci retracement level of the last major drop from the $1,238.92 high to $564.11 low.
A 4-hour close above the mentioned $900.00 resistance could trigger further upsides toward $1,000.00. In the short-term, there may be ranging moves around the $900.00-920.00 level, but the medium-term bias is bullish.