ETH Price Signals Surge; But Will the Coin Rebound to $1,400?

• ETH signaled a possible hike at the outset of intraday trading.
• But, the coin is currently holding a red candle.
• ETH is 2.5% up and trades at $1,344.22.

The crypto market has been following an uptrend for the past three days, where Bitcoin (BTC) hit a high of $19690 in the past day. Contextually, Ethereum (ETH) also signaled a surge above the $1,300 range, yesterday.

However, currently, the coin shows a red candle with a high of $1,370. This price hike is not comparatively different from the highest price of the past day. Notably, ETH crossed the $1,337 resistance zone in the past day. Although ETH’s less-different price makes its price analysis dicey, the coin could watch for a hike near $1,380.

At press time, ETH was trading at $1,344.22, with a 2.5% hike in the past 24 hours. In the past seven days, the coin showed a mild surge of 0.72%.

As clear from the graph above, the 51-day EMA line is near the intraday red candle. If the line touches the current price of ETH, its price will either mark another good surge or go down to dip. Additionally, the price has fluctuated since September 15 after the PoS merge. This made the coin steeply dip by over 17%.

The 4-hour chart of ETC also indicates uniform highs in price, which are low compared to the price at the beginning of intraday trading. If the current lower tick of the red candle hits the EMA 51 line, turbulence for a price fall can be expected. Moreover, the bears have taken action on the 4-hour chart, making a red zone for ETH.

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