Ethereum

Resistance

Ethereum price is consolidating gains above $3,400. ETH is showing positive signs and might soon aim for a move above the $3,500 resistance zone. 
<ul> 
 <li>Ethereum is holding gains and consolidating below the $3,500 resistance zone.</li> 
 <li>The price is trading above $3,400 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $3,420 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair seems to be setting up for a move toward the $3,650 and $3,800 levels.</li> 
</ul> 
<h2 id="ethereum-price-remains-supported">Ethereum Price Remains Supported</h2> 
Ethereum price formed a base above the $3,350 level and started another increase, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-rally-65k/" target="_blank" rel="noopener ">Bitcoin</a>. ETH broke the $3,400 level to set the pace for more upsides. 
There was a clear move above the 50% Fib retracement level of the downside correction from the $3,519 swing high to the $3,305 low. The bulls are now active above the $3,420 level. There is also a key bullish trend line forming with support at $3,420 on the hourly chart of ETH/USD. 
Ethereum is now trading above $3,450 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-uptrend-3500/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. It is showing positive signs above the 76.4% Fib retracement level of the downside correction from the $3,519 swing high to the $3,305 low. 
Immediate resistance on the upside is near the $3,500 level. The first major resistance is near the $3,520 level. The next major resistance is near $3,550, above which the price might gain bullish momentum. &nbsp;The next stop for the bulls could be near the $3,650 level. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-596076" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_648925.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
If there is a move above the $3,650 resistance, Ether could even rally toward the $3,720 resistance. Any more gains might call for a test of $3,800. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported In ETH?</h2> 
If Ethereum fails to clear the $3,520 resistance, it could start a downside correction. Initial support on the downside is near the $3,420 level and the trend line. 
The first major support is near the $3,400 zone or the 100 hourly SMA. The next key support could be the $3,350 zone. A clear move below the $3,350 support might send the price toward $3,320. Any more losses might send the price toward the $3,150 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $3,400 
Major Resistance Level – $3,520

Ethereum Price Key Indicators Suggest A Strengthening Case For Surge To $3,800

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