Ethereum is showing resilience, pushing above critical resistance levels and holding steady. Here's what traders need to know:
Key Highlights:
Current Trend: $ETH has risen beyond $3,400 and maintains strong support above $3,450.
Bullish Signals: The hourly $ETH /USD chart shows a bullish trend line with support near $3,455.
Key Resistance Levels: $3,525 and $3,550 are the critical barriers to watch for the next rally.
🎯 Potential Scenarios:
1️⃣ Bullish Breakout:
If $ETH clears $3,525 and $3,550, expect a rally towards $3,620, with further potential to reach $3,680 or $3,750.
2️⃣ Bearish Pullback:
A failure to break $3,550 could lead to a retest of $3,455 support.
Further declines could target $3,375 or even $3,250, which aligns with key Fib retracement levels.
📊 Technical Overview:
Support Levels: $3,455, $3,375, $3,250
Resistance Levels: $3,525, $3,550, $3,620
Indicators: Price is above the 100-hour SMA, signaling bullish momentum.
🔥 Market Sentiment:
With Bitcoin's movements influencing the market and Ethereum's strong fundamentals, traders should prepare for potential volatility. Breakouts above resistance could set the stage for a strong year-end rally.
What’s your strategy? Will ETH hit $3,750 or revisit lower supports? Let us know your take!
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