As stated in the previous article Ethereum was showing upside momentum and it moved 7+% today as per Ethereum trading sites.
Looking at the ethereum trends on Hourly (4H) chart timeframe, we can observe potential resistance turned support (S/R) around $119-$120 was held.
If we look at the ethereum price analysis today on hourly time-frame (4H), ETH/USD has been hovering over 10H & 20H EMAs with a bullish crossover.
Ethereum price level needs to hold above the Ichimoku cloud further bullish momentum.
Stoch-RSI indicator curved upward indicating further bullish movement but MACD indicator is curving into bearish sentiments with no upcoming ethereum news.
Looking at the ethereum technical analysis today, It needs to hold a critical support level around $108-$110 to maintain bullish sentiment.
Ethereum price analysis 2019 states it needs to undergo a corrective rally before continuing the bullish momentum.
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2019-09-03 10:27:13.330008 | 2 min