Ethereum, ETH to USD, was down 0.56 percent to $4,785.10 at the time of writing.
Ethereum had a shaky start to the day, falling to an early morning low of $4,777.27 before making a rise.
Ethereum soared to a new all-time high of $4,842.54 in the middle of the morning, avoiding the first significant support level at $4,677.
Ethereum dropped down to sub-$4,800 levels after falling short of the first key resistance mark at $4,886.
To attempt another shot at the first big resistance level at $4,886 in the afternoon, Ethereum would need to dodge the $4,751 pivot.
Ethereum would require a lot of support to break out from its ATH of $4,842.54 this morning. The first big resistance mark at $4,886 and barrier at $5,000 would likely restrict the gains unless there was a sustained crypto surge into the afternoon.
$4,960 is the second significant resistance level.
Ethereum might hit the third big resistance level at $5,168 if it continues to climb into the afternoon. If the price falls below the pivot at $4,751, the first significant support level at $4,677 will be tested.
However, unless there is a sustained sell-off into the afternoon, Ethereum should avoid falling below $4,500.
At $4,543, the second key support level, the downside should be limited.
We watched the 50 EMA break away from the 100 and 200 EMAs this morning, looking beyond the support and resistance levels. The 100 EMA also pulled away from the 200 EMA, providing more support. A further expansion of the 50 EMA from the 100 and 200 would put $5,000 levels into play during the second part of the day. Moving back through the morning ATH4,842.54 would be key into the late morning and early afternoon.
If the price falls below $4,750, support levels below $4,600 may become available.