Ethereum bulls control, why ETH can rise above $ 3,500

Ethereum gained strength above 3,200 and $ 3,350 against the US dollar. If ETH clears the price of, 3,450 and, 3,500, it could start a new rally.

  • Ethereum began a steady rise after it settled above the $ 3,200 level.
  • Prices are now trading above the সর 3,300 and 100 hour simple moving average.
  • ETH / USD (data feed via Kraken) had a break below a key bullish trend line with support around $ 3,400 per hour on the chart.
  • The pair could be supported near the 3,300 and 3,250 levels.

Ethereum price stuck below resistance

Ethereum has formed a base above the $ 3,000 level and started a new growth. ETH broke the resistance levels of $ 3,150 and $ 3,200 to move into positive territory.

There was also a simple simple moving average above the $ 3,300 level and 100 hours. The price has traded at, 3, 48 48 and has recently been corrected as low as Bitcoin. Ether has fallen below the 3,400 support level. .6 There was a break below the .6 23.6% Fib retracement level of the upward move from the $ 2,970 swing to the 3,489 high.

ETH / USD had a break below a key bullish trend line with support near $ 3,400 on the hourly chart. It is now trading above the $ 3,320 support level.

Source: ETHUSD on

Side upward is an immediate resistance near the $ 3,400 level. The first major resistance is near the $ 3,420 level. A break above the $ 3,420 level could start a steady rise. The next major resistance is near the $ 3,500 zone, above which the price may accelerate further.

Dips Ltd. at ETH?

If Etherium fails to move above the resistance levels of $ 3,420 and 3,500, it could start a new reversal. The initial support on the negative side is close to the $ 3,300 level.

First key support is now close to the 3,250 level and 100 hours simple moving average. If Ether fails to stay above $ 3,250, it could test 3,230. It moves from a low of $ 2,970 to a high of $ 3,489 near the 50% Fib retracement level of the upward move.

Technical indicators

MACD per hourThe MACD of ETH / USD is now losing momentum in the bullish zone.

RSI per hourETH / USD’s RSI is just below 50.

Main support level – $ 3,250

Major resistance level – $ 3,420

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