Ethereum Price Stays Strong: Will ETH Continue To Rise? 🚀
Ethereum's price recently faced resistance near the $3,500 zone but remains strong above $3,380. Here’s a breakdown of what’s happening and what might come next:
🔹 Current Status:
Ethereum is consolidating above the $3,380 support.
Trading above $3,380 and the 100-hourly Simple Moving Average.
A key bullish trend line is forming with support at $3,375 on the hourly chart of ETH/USD.
🔹 Resistance Levels:
Immediate resistance at $3,450.
Major resistance at $3,500. Clearing this could push ETH to $3,550.
Further resistance at $3,640 and potentially up to $3,750.
🔹 Support Levels:
Immediate support at $3,380.
Major support at $3,350. Falling below this could drop ETH to $3,270.
Further support at $3,220 and possibly down to $3,150.
🔹 Technical Indicators:
Hourly MACD is losing momentum in the bullish zone.
Hourly RSI is below 50, indicating a slight bearish trend.
📊 Conclusion: Ethereum might continue to rise if it stays above the key support levels. Watch the $3,450 and $3,500 resistance levels closely for potential breakouts.
📢 Stay tuned for more crypto insights! 👍
🔔 Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Always do your own research before making any investment decisions.
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