Ethereum Price Poised for Recovery: Will It Reignite The Uptrend?

Share This Post

Ethereum price is moving higher from the $3,550 zone. ETH is showing bullish signs and might soon aim for a move above the $3,680 resistance zone.

  • Ethereum started a downside correction and retested the $3,550 zone.
  • The price is trading above $3,600 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could restart its increase if it clears the $3,650 zone.

Ethereum Price Eyes Fresh Upward Move

Ethereum price failed to clear the $3,800 resistance zone and corrected some gains like Bitcoin. ETH declined below the $3,650 and $3,600 support levels. It even retested the $3,550 support level.

A low was formed at $3,557 and the price is now attempting a fresh increase. There was a move above the $3,600 and $3,620 levels. The price tested the 50% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low.

Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,650 level. There is also a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD.

The first major resistance is near the $3,685 level or the 61.8% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low. The main resistance is now forming near $3,750.

Ethereum Price

A clear move above the $3,750 resistance might send the price toward the $3,800 resistance. An upside break above the $3,800 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920.

Another Slide In ETH?

If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,580 zone.

A clear move below the $3,580 support might push the price toward the $3,550 support. Any more losses might send the price toward the $3,440 support level in the near term. The next key support sits at $3,350.

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 – $3,550

Major Resistance Level – $3,685

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin Accumulation Resumes After 3 Months Of Distribution – Analyst

Bitcoin (BTC) continues to trade below the $85K level, fueling fears of further downside as the bearish trend remains intact Bulls are losing momentum, failing to reclaim key resistance levels and

BTCC Exchange Named Headline Sponsor of Red Eagle Foundation’s Charity Golf Day Featuring Matt Le Tissier

This content is provided by a sponsor PRESS RELEASE March 18, 2025 – BTCC, the world’s longest-serving crypto exchange, is proud to continue its support of the Red Eagle Foundation’s charity

Ethereum Price Prediction 2025, 2026 – 2030: Can ETH Price Hit $5k?

The post Ethereum Price Prediction 2025, 2026 – 2030: Can ETH Price Hit $5k appeared first on Coinpedia Fintech News Story Highlights The Ethereum price today is ETH price with a potential

Mubarak Meme Coin Skyrockets 200% in 48 Hours: Is This Rally Sustainable?

The post Mubarak Meme Coin Skyrockets 200% in 48 Hours: Is This Rally Sustainable appeared first on Coinpedia Fintech News MUBARAK coin has taken the crypto market by storm, skyrocketing 200% in just

Cato Institute Warns of Eroding Financial Privacy Rights Amid Fincen’s New Reporting Rules

The Cato Institute has criticized the Financial Crimes Enforcement Network (FinCEN)’s decision to lower the threshold for currency transaction reports from $10,000 to $200 for US citizens

Breaking: XRP, Polygon, and Cardano Selected for Skyren DAO’s Token Surge Event – Staking Rewards Up to 210% APY

The post Breaking: XRP, Polygon, and Cardano Selected for Skyren DAO’s Token Surge Event – Staking Rewards Up to 210% APY appeared first on Coinpedia Fintech News The DeFi world just got a major