#币安Alpha公布第6批项目
Ethereum price approaches key resistance level: Is the turning point coming?
The price of Ethereum has dropped significantly before, but it has now rebounded from the support level of $3,220. If it can break through the resistance level of $3,550, the price may continue to rise.
Currently, the price of Ethereum has started a new round of increase above $3,350. The price has not only exceeded $3,420 but has also firmly remained above the 100-hour simple moving average. On the hourly chart of ETH/USD, we can see a bullish trend line with a support level at $3,425 (data source: Kraken).
If Ethereum can break through the resistance levels of $3,520 and $3,550, its price may see a significant rise.
The price of Ethereum is now stable above $3,220 and, like Bitcoin, has also started to recover. It has successfully broken through the resistance levels of $3,350 and $3,400, and even surpassed the $3,500 mark. However, bears are still quite active below $3,550. The price peaked at $3,534 and is now consolidating its gains, slightly retracing, but has not fallen below the 23.6% Fibonacci retracement level from the low of $3,226 to the high of $3,534.
Currently, Ethereum's trading price is still above $3,420 and the 100-hour simple moving average. On the hourly chart of ETH/USD, that bullish trend line is still present, with the support level remaining at $3,425.
If the price rises, it may encounter resistance around $3,520, with the first major level at $3,540. If it breaks through the resistance level of $3,550, the price may continue to surge towards $3,650, potentially bringing more gains in the coming trading days. At that time, Ethereum may rise to $3,720 or even $3,800.
However, if Ethereum fails to break through the resistance level of $3,550, the price may decline again. The first support level on the downside is near $3,425 and the trend line, followed by $3,375.
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