Ethereum Price Hints at Upside: Analyzing The Bullish Signals

Share This Post

Ethereum price is attempting a fresh increase above the $3,420 resistance zone. ETH is now struggling to clear the $3,480 and $3,520 resistance levels.

  • Ethereum slowly moved higher above the $3,420 zone.
  • The price is trading above $3,400 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance near $3,390 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must clear the $3,480 and $3,520 resistance levels to continue higher.

Ethereum Price Recovers Slightly

Ethereum price started a decent recovery wave above the $3,350 level. ETH even cleared the $3,400 level and outperformed Bitcoin. There was a break above a connecting bearish trend line with resistance near $3,390 on the hourly chart of ETH/USD.

The pair even cleared the $3,450 resistance zone. A high was formed at $3,482 and the price is now consolidating gains. There was a move below the $3,450 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,328 swing low to the $3,482 high.

The bulls are now trying to protect more downsides below the $3,420 level. Ethereum is trading above $3,400 and the 100-hourly Simple Moving Average.

On the upside, the price is facing resistance near the $3,480 level. The first major resistance is near the $3,500 level. The next major hurdle is near the $3,520 level. A close above the $3,520 level might send Ether toward the $3,550 resistance.

Ethereum Price

The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher. Any more gains could send Ether toward the $3,740 resistance zone.

Another Drop In ETH?

If Ethereum fails to clear the $3,480 resistance, it could start another decline. Initial support on the downside is near $3,420. The first major support sits near the $3,400 zone and the 50% Fib retracement level of the upward move from the $3,328 swing low to the $3,482 high.

A clear move below the $3,400 support might push the price toward $3,320. Any more losses might send the price toward the $3,240 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,400

Major Resistance Level – $3,480

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Spot ETF Exodus Continues: $900 Million Outflows Extend Losing Streak

Following the last trading window, the US Bitcoin Spot ETFs have recorded another week of overwhelming net outflows with investors pulling over $900 million from the market This development marks the

US Spot Bitcoin ETFs Lost 55,348 BTC Worth $4.58B in Just 35 Days

According to the latest data, US spot bitcoin exchange-traded funds (ETFs) have trimmed their holdings by 476% since Feb 6, 2025 From Jan 1 to Feb 6, these funds added roughly 56,80286 BTC to their

Crypto Reserve Controversy: Poll Shows Americans Aren’t On Board

About 51%, or the majority of Americans, do not support the creation of a cryptocurrency strategic reserve, a proposal that US President Donald Trump has been pushing since his election in November

Whales Accumulate Over 150 Million XRP In Just 48 Hours – Is A Rally Incoming?

XRP has finally found stability above crucial demand levels after enduring weeks of heavy selling pressure and market uncertainty Despite the broader crypto market’s volatility, XRP remains within

40x Leverage, Millions on the Line—Meet the Trader Betting Big Against BTC

This weekend, a trader on Hyperliquid, a decentralized derivatives exchange, has been making waves with an eye-catching bitcoin short position Using 40x leverage, the trader’s bet carries a

XRP Price Must Close Above This Level For Bullish Breakout, Analyst Warns

XRP has struggled to gain momentum, with its price caught in a downtrend since the beginning of March Although XRP has managed to push up in the past five days after reaching a low of $193 on March