Ethereum Price Prepares: Will Bulls Start a Rally?

Ethereum price rose over $3,350 barrier. ETH is rebounding and might gain if it breaks $3,550.

Ethereum rose beyond $3,400 again.
The price is above $3,450 and the 100-hour SMA.

The hourly ETH/USD chart shows a bullish trend line with support at $3,455.

If it breaks $3,525 and $3,550 resistance, the pair might rise.

Ethereum Price Rises

Ethereum price began rising beyond $3,320 like Bitcoin. ETH broke $3,400 and $3,420 barrier.

Price broke $3,500 resistance. However, bears persisted below $3,550. Price is holding gains after hitting $3,535 high. It fell below the 23.6% Fib retracement level of the $3,225 swing low to $3,534 high.

Ethereum is over $3,450 and the 100-hour SMA. On the hourly ETH/USD chart, a positive trend line connects to $3,455.

The price may face resistance at $3,500 on the upside. At $3,525, serious resistance begins.

Main resistance is about $3,550. A clean break over $3,550 might push the price above $3,620. Above $3,620 barrier might lead to greater advances in the following sessions. Ether might reach $3,680 or $3,750 in this situation.

Another ETH drop?

Ethereum may fall if it fails to break $3,550. The $3,455 level and trend line provide first downward support. First significant support is at $3,375, the 50% Fib retracement level of the upward advance from $3,225 swing low to $3,534 high.

A decisive break below $3,375 might bring the market below $3,250. If losses continue, the price may reach $3,220 support. Next important support is $3,110.

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