Ethereum

Rally

Strong

Resistance

Ethereum price extended its increase toward $3,950. ETH is now consolidating gains and might aim for a move above the $4,000 resistance. 
<ul> 
 <li>Ethereum traded to a new multi-month high above $3,940.</li> 
 <li>The price is trading above $3,850 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a short-term bullish flag pattern with resistance at $3,830 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could resume its increase if it clears the $3,940 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-remains-in-strong-uptrend">Ethereum Price Remains In Strong Uptrend</h2> 
Ethereum price extended its rally above the $3,850 level, unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-reclaims-66k/" target="_blank" rel="noopener ">Bitcoin</a>. BTC failed to extend gains above the $68,000 zone and is now consolidating gains. However, ETH silently moved higher above $3,850. 
There was a break above a short-term <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-consolidates-4k/" target="_blank" rel="noopener ">bullish flag pattern</a> with resistance at $3,830 on the hourly chart of ETH/USD. The pair broke the $3,900 resistance zone. It traded to a new multi-month high above $3,940 and recently started a consolidation phase. 
There was a pullback below the $3,900 level. The price tested the 23.6% Fib retracement level of the recent increase from the $3,716 swing low to the $3,943 high. 
Ethereum is now trading above $3,850 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,920 level. The first major resistance is near the $3,940 level. The next major resistance is near $4,000, above which the price might gain bullish momentum. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-596860" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_cebcf1.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> 
The next stop for the bulls could be near the $4,080 level. If there is a move above the $4,080 resistance, Ether could even rally toward the $4,220 resistance. Any more gains might call for a test of $4,350. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited In ETH?</h2> 
If Ethereum fails to clear the $3,940 resistance, it could start another downside correction. Initial support on the downside is near the $3,850 level. 
The first major support is near the $3,800 zone or the 76.4% Fib retracement level of the recent increase from the $3,716 swing low to the $3,943 high. The next key support could be the $3,720 zone. A clear move below the $3,720 support might send the price toward $3,550. Any more losses might send the price toward the $3,400 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $3,720 
Major Resistance Level – $3,940

Ethereum Price (ETH) On The Path To Rally Past $4K

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