Ethereum saw mixed sessions early today. However, moving past the $4,800 level would catalyze another bullish run towards the critical mark at $5,000.
While writing this content, Ethereum (ETH/USD) trades around $4,720.1 after a slight rise. Mixed early sessions on Thursday had the leading alt falling to $4,578.1 low before moving. However, the asset touched a morning peak of $4,744 as it steered clear of the initial crucial support at $4,439.
However, the crypto ailed to overcome the first critical resistance zone at $4,874 and dropped to somewhat steady at sub-$4,700.
Ethereum’s Afternoon Ahead
Ethereum should avoid plunging under the pivot at $4,653 to support another surge towards the initial crucial resistance zone at $4,874. Nevertheless, the token required massive support to overcome the levels at $4,800.
However, if ETH lacks an extended rally in the afternoon session, the initial resistance at $4,867.8 might prevent upsurges. However, continuous rally during the up-and-coming sessions will have ETH resting the 2nd crucial resistance at $5,061.
Meanwhile, breaching the pivot at $4,652 can see Ethereum hitting the initial massive support zone at $4,439. The altcoin will steer away from the sub-$4,400 without an extended fall throughout the afternoon. The 2nd support stands at $4,246.
Besides the resistance and support level, the 50 exponential moving average narrows on the 100- and 200-EMAs. The 100 EMA steadies against the 200-exponential moving average, delivering support.
Through today’s second half, 50-EMA widening from the 100 and 200 can see ETH at $5,000. However, the asset has a higher probability of exploring $4,800 today. Meanwhile, declining towards the sub-$4,650 would witness Ethereum hitting sub-$4,500 support.
Other assets in the crypto space witnessed mixed trading sessions in the morning. Bitcoin Cash (-0.6%) and Crypto.com Coin (-4.2%) bucked their morning trend. However, some altcoins recorded bullish actions. Polkadot and Chainlink led the gainers, surging 4.4% and 5.3%, respectively.
Some coins secure strong support at ADA (+0.79%) and Ethereum (+1.57%). On the other part, the cryptocurrency’s total market value dropped during early morning sessions to $2.76 trillion before climbing to $2.84 trillion. While writing this update, the global market capitalization stands at $2.8 trillion.