CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
NewsBTC 2024-07-22 03:28:45

Ethereum Price Climbs: Will It Challenge the $3,700 Mark Again?

Ethereum price started a downside correction from the $3,500 resistance zone. ETH declined below $3,440 and might struggle to stay above $3,380. Ethereum is moving higher above the $3,500 zone. The price is trading above $3,520 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $3,565 resistance zone. Ethereum Price Reclaims $3,500 Ethereum price remained in a bullish zone above the $3,350 resistance zone. ETH extended its increase above the $3,500 resistance but lagged Bitcoin. There was a spike above the $3,550 level and the price traded as high as $3,563. It is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $3,412 swing low to the $3,563 high. Ethereum is now trading above $3,500 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,450 on the hourly chart of ETH/USD. The trend line is close to the 76.4% Fib retracement level of the upward move from the $3,412 swing low to the $3,563 high. If the price stays above the 100-hourly Simple Moving Average, it could attempt a fresh increase. On the upside, the price is facing resistance near the $3,550 level. The first major resistance is near the $3,580 level. The next major hurdle is near the $3,650 level. A close above the $3,650 level might send Ether toward the $3,700 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher toward the $3,800 resistance zone in the coming days. Another Decline In ETH? If Ethereum fails to clear the $3,550 resistance, it could start a downside correction. Initial support on the downside is near $3,500. The first major support sits near the $3,470 zone and the 100-hourly Simple Moving Average. A clear move below the $3,470 support might push the price toward $3,440. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,320. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,500 Major Resistance Level – $3,550

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen