CRYPTO

Ethereum is just the opposite and $ 3,700 is imminent, here’s why


Ethereum gained momentum and crossed the $ 3,500 level against the US dollar. The ETH price is trading in a positive territory and could rise further towards 3,700.

  • Ethereum has started a new rise above the মাত্র 3,500 resistance level.
  • Prices are now trading above the simple simple average of $ 3,400 and 100 hours.
  • ETH / USD (data feed via Kraken) has a key bullish trend line with support around $ 3,450 per hour on the chart.
  • As long as it stays above the জো 3,400,000 support zone in the near term, the pair could grow.

Ethereum price assembly extends

Ethereum has started steady growth above the অঞ্চ 3,350 resistance zone. ETH was able to rise above 3, 3,450 and above the simple simple average of 100 hours.

Prices have even cleared the 3,500 zone. A high is formed around $ 3,539 and it is now correcting the profit. Ether has been modified below 500 3,500. It is now trading near the 23.6% Fib retracement level of recent growth which is $ 3,339 higher than the $ 3,275 swing low.

It is now being consolidated around the $ 3,480 zone. ETH / USD also has a key bullish trend line with support around $ 3,450 per hour chart. Side upward is an immediate resistance near the $ 3,500 level. The first major resistance is near the $ 3,540 level.

Source: ETHUSD on TradingView.com

The next major resistance is near the 3,550 level, above which the price may accelerate towards $ 3,700. Any gain could set the pace for greater growth towards the $ 3,800 level in the near term.

ETH supported dips?

If Ethereum fails to move above the resistance levels of $ 3,540 and 3,550, it could start a new negative correction. The initial support on the negative side is near the $ 3,450 level.

The first key support is now forming near the $ 3,400 level. This is near the recent increase of 50% Fib retracement level from $ 3,275 swing low to $ 3,339 high. And any loss could push Ether’s price to the $ 3,375 support zone and a simple 100-hour moving average. The next major support could be near the 3,320 level.

Technical indicators

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

RSI per hourThe RSI of ETH / USD is declining towards the 50 level.

Main support level – $ 3,400

The main resistance level – $ 3,550



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