Ethereum is experiencing strong growth from the $3,550 zone. The price shows bullish signals and could soon break through the key resistance zone at $3,920.
Ethereum Remains in a Positive Zone
Ethereum is holding steady above the $3,650 mark and continues to climb.
It is currently trading above $3,750 and remains above the 100-hour simple moving average.
On the hourly ETH/USD chart, a key bullish trend line is forming with support at $3,800.
If Ethereum surpasses the $3,880 resistance, it could continue its upward trajectory.
Ethereum Starts a New Uptrend
After building strong support at $3,650, Ethereum gained momentum. Its recent growth pushed it above $3,700, mirroring a similar move in Bitcoin. Bulls managed to push the price above the critical $3,800 resistance, reaching a high of $3,895.
Ethereum is now showing positive signals and is holding above the 23.6% Fibonacci retracement level. A bullish trend line with support at $3,800 on the chart confirms the market's stability.
Resistance at Key Levels
Ethereum is currently trading near $3,895, where it faces its first hurdle. Key resistance levels include:
$3,920 – the first major barrier.
$3,950 – the primary resistance level.
A clear move above $3,950 could push the price toward $4,000. Breaking this psychological level could pave the way for further gains, with potential targets at $4,050 or even $4,120.
Downside Risks: What if Ethereum Fails?
If Ethereum fails to break the $3,920 resistance, a pullback could occur:
Initial support is located at $3,800, followed by stronger support at $3,750.
A drop below $3,750 could send the price toward $3,700, aligning with the 50% Fibonacci retracement level.
Further losses might bring Ethereum down to the $3,650 or even $3,600 support zones.
Technical Indicators Signal Optimism
MACD on the hourly ETH/USD chart is gaining strength in the bullish zone.
RSI is above 50, confirming positive momentum.
Ethereum remains on an upward trend and is in a strong position. Breaking through the key resistance levels could drive further growth toward the much-anticipated $4,000 mark.
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