$ETH Ethereum price still supported for further increase
Ethereum price remains stable above the $3,540 support zone. ETH formed a base, outperformed Bitcoin, and started another rise above $3,650.
There was a move above the $3,750 resistance. The bulls have pushed the price above the 50% Fib retracement level of the downtrend from the $3,944 high to $3,530 low. There is also a key uptrend line forming with support at $3,780. ETH/USD hourly chart.
Ethereum price is trading above $3,750 and the 100 Hourly Simple Moving Average. It is also above the 76.4% Fib retracement level of the downward move from the $3,944 high to $3,530 low.
Immediate resistance is near the $3,880 level. The first major resistance is near the $3,920 level. A break above the $3,920 resistance could propel the price higher. The next key resistance level lies at $4,000, above which the price could gain traction and rally towards this level. level $4,080.
If there is a clear move above $4,080, the price could rise and test the $4,220 resistance. Any further gains could take ETH towards the $4,350 resistance zone.
