Ethereum

Cryptocurrency

Momentum

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-price-climbs-challenging-key-resistance-levels" rel="noopener noreferrer nofollow">Ethereum Price Climbs, Challenging Key Resistance Levels</a><br></p>
<p style="text-align: justify">Cryptocurrency markets are experiencing a surge as <a href="https://en.bitcoinhaber.net/bitcoins-next-move-analyst-eyes-48k-milestone-for-potential-surge-to-60k" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price increase positively impacts other digital assets. <a href="https://en.bitcoinhaber.net/ethereums-revival-analyst-donalt-shifts-stance-on-eths-market-potential" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) in particular has seen a notable uplift, with its value climbing over 10% from the $3,050 mark, now approaching the resistance threshold of $3,550.</p>
<h2 id="ethereum-s-upward-momentum">Ethereum’s Upward Momentum</h2>
<p style="text-align: justify">Previously, Ethereum followed the broader crypto market’s decline, slipping below $3,350. It has since rebounded sharply after hitting the pivotal $3,050 support level, driven by a vigorous push from investors. The current price of Ethereum hovers above $3,400 and has also surpassed the 100-hour Simple Moving Average, signaling a potentially bullish short-term forecast.</p>
<h2 id="overcoming-technical-barriers">Overcoming Technical Barriers</h2>
<p style="text-align: justify">Technical charts reveal that Ethereum has breached a major downturn trend line, with past resistance around $3,400 on the hourly ETH/USD chart. The primary challenge now is the $3,550 level; a consistent close above this could catalyze further positive market sentiment and price increases for Ethereum.</p>
<p style="text-align: justify">If Ethereum’s ascent continues, the next target is the $3,820 level, and surpassing this could set the stage for a move towards the $4,000 mark.</p>
<p style="text-align: justify">Conversely, if Ethereum encounters a downturn, the immediate support lies near $3,380. A dip below this could see the price retracting towards $3,320, with a more significant concern being a drop below the key $3,220 support area, potentially driving prices down to $3,150, or even the $3,050 level.</p>
<p style="text-align: justify">As for technical indicators, the hourly MACD for ETH/USD is showing a slowdown in bullish momentum, while the hourly RSI remains above 50, indicating buying activity may still prevail. Current <a href="https://en.bitcoinhaber.net/bitcoin-faces-hurdles-to-reach-68000-as-sales-pressure-continues" rel="noopener noreferrer nofollow">technical analysis</a> points to a main support level at $3,380 and a crucial resistance at $3,550.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-price-climbs-challenging-key-resistance-levels" rel="noopener noreferrer nofollow">Ethereum Price Climbs, Challenging Key Resistance Levels</a></h5>

Ethereum Price Climbs, Challenging Key Resistance Levels

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