Ethereum Price Analysis: Stabilized Above $3,500
Recently, Ethereum price has regained its footing above $3,500 after a brief correction, showing the market's continued recognition of its value. Next, we will briefly analyze Ethereum's current price trend.
From a technical perspective, Ethereum price experienced a small correction after hitting the 3,500 resistance area, but soon resumed its upward trend, indicating that bulls remain strong. At present, ETH's price has successfully broken through and stabilized above 3,500, which is a positive sign.
Looking further at the ETH/USD trading chart, we can see that the price is moving along a clear upward trend line, and this trend line provides strong support near $3,450. At the same time, ETH price is also above the 100-hour simple moving average, which further confirms its strong position.
In the current price range, Ethereum faces some key resistance levels. The first is 3,550. If this resistance level can be successfully broken, ETH price is expected to move towards 3,650 or even higher levels. However, if it fails to break through, it may trigger a small correction.
From the technical indicators, although the MACD line is in the bull market area, the momentum has weakened, which may mean that the market will enter a consolidation phase in the short term. At the same time, the RSI remains above 50, indicating that the market as a whole is still in a strong area.
In terms of support, $3,500 is an important psychological barrier and the focus of competition between bulls and bears. If the ETH price can get effective support at this position, the market outlook is still expected to continue to maintain an upward trend. Once this support level is broken, it may trigger a larger correction.
