Could Ethereum Price Reach ATH?
Ethereum (ETH) is trading at $3,610, up 0.30% in 24 hours, on $15.62 billion in volume. The cryptocurrency market, with a $3.47 trillion value, is resilient despite shifting emotions, as seen by its Fear and Greed Index score of 61.
Ethereum, ranked #2 with a market worth of $435.12 billion, is testing a crucial resistance zone around $3,675, which creates a double-top pattern and correlates with a declining trendline. Traders should monitor this region.
Current Market Overview
Crypto market trade volume is $87.46 billion, indicating investor interest. Altcoin Season Index is 52/100, indicating a Bitcoin-altcoin balance. Traders watch Ethereum's price for breakouts.
Key Ethereum Price Levels and Indicators
Ethereum faces immediate resistance around $3,675, crucial for bullish continuation. A break above this pivot might go to $3,829 and $3,977.
Failure to break this level may cause a decline toward $3,504, with support around $3,299 and $3,097.
Momentum indications are mixed. The RSI is 60, suggesting moderate bullishness.
Ethereum remained above its 50-day EMA of $3,490, supporting the short-term rise.
However, the double-top shape suggests reversals if $3,675 resistance holds.
What Traders Should See
The Fear and Greed Index is 61, indicating optimism, although Ethereum's resistance should be considered. Breaking $3,675 might boost buying momentum and drive price toward higher resistance levels.
Ethereum may correct if it fails to persist above this pivot, with the 50-day EMA as first support.
Key Findings:
Resistance: Breakout at $3,675 might aim $3,829 and $3,977.
Key support is $3,504, followed by $3,299 and $3,097.
Market Feeling: RSI at 60 indicates mild bullishness; price over 50 EMA shows early strength.
