Ethereum Regains Bullish Momentum, Battles the $4,400 Resistance Level

[RSRS]

Today, Ethereum (ETH) has risen back above $4,000 support today as the altcoin resumed its upward trajectory. The cryptocurrency has risen as high as $4,162, but faces a little resistance at the recent level. On October 21, Ether had encountered major resistance at the $4400 resistance zone.

The market fell to a low of $4,042.50 as bulls bought the dips. If the bulls break through the $4,400 resistance, Ethereum will see an accelerated price action. The market will rally to the high at $4,800. However, if the buyers fail to break the high at $4,400, ETH /USD will fall and resume the upward correction in the uptrend zone. That is, the altcoin will fluctuate between the prices of $4,000 and $4,400.

Ethereum indicator analysis
Ether has risen to the level 67 of the Relative Strength Index of the period 14. It is still in the uptrend area and approaching the overbought zone. The cryptocurrency has a bullish crossover as the 21-day line crosses above the 50-day moving average. This gives us a buy signal. The market is in a bullish momentum as it is above the 40% area of the daily stochastic.

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