Ethereum

2024

<p>The cryptocurrency market is experiencing a resurgence of optimism, likely due to the recent surge in Bitcoin. Ethereum (ETH) is benefiting from this positive momentum, showing an increase of over 10%. Its price has risen from $3,050 to approximately $3,480. However, the progress is currently encountering a crucial resistance zone at $3,550.</p>
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     <p lang="en" dir="ltr">Ethereum Bulls Make a Comeback <a href="https://t.co/iTP0gpDNxm" rel="noopener noreferrer nofollow">https://t.co/iTP0gpDNxm</a><br><br>Follow us and stay up to date with the latest developments for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> <a href="https://twitter.com/hashtag/cryptomarket?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptomarket</a> <a href="https://twitter.com/hashtag/cryptocurrencynews?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrencynews</a></p>— COINTURK NEWS (@Cointurknews) <a href="https://twitter.com/Cointurknews/status/1770687262084202886?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 21, 2024</a>
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  Ethereum: Bulls Make a Comeback
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<h2 id="h-bulls-return-with-strength">Bulls Return with Strength</h2>
<p>Ethereum reached the psychological threshold of $3,000 in February. After falling below $3,350, it found <strong>a solid support at $3,050</strong> and then experienced a vigorous rebound. It is now trading above $3,500 and the 100-hour simple moving average. This indicates a bullish sentiment in the short term.</p>
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<h2 id="h-ethereum-price-in-depth-technical-analysis">Ethereum Price: In-Depth Technical Analysis</h2>
<p>The hourly MACD for ETH/USD is showing a bullish divergence. This suggests a potential strengthening of the bullish momentum. As for the hourly RSI, it is currently above 60. This <a href="https://en.coin-turk.com/ethereum-bulls-make-a-comeback-2/" target="_blank" rel="noopener noreferrer nofollow">suggests</a> an <strong>overbought Ethereum market,</strong> yet with persistent buying potential.</p>
<p>The Bollinger Bands, on the other hand, have widened, indicating increased volatility and significant upside potential.</p>
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<p>Here are the key supports and resistances to watch for Ethereum:</p>
<ul>
 <li><strong>Primary Support:</strong><strong>&nbsp;$3,380</strong></li>
 <li><strong>Secondary Support:</strong><strong>&nbsp;$3,320</strong></li>
 <li><strong>Crucial Support:</strong><strong>&nbsp;$3,220</strong></li>
 <li><strong>Major Resistance:</strong><strong>&nbsp;$3,700</strong></li>
 <li><strong>Psychological Resistance:</strong><strong>&nbsp;$4,000</strong></li>
</ul>
<h2 id="h-what-are-the-prospects-for-ethereum">What Are the Prospects for Ethereum?</h2>
<p>Two scenarios are possible.</p>
<h3 id="h-bullish-scenario">Bullish Scenario</h3>
<p>A break and sustained close above $3,700 would confirm the bullish trend. They could propel Ethereum (ETH) <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" target="_blank" rel="noopener noreferrer nofollow">prices</a> <strong>towards $4,000 or $4,500</strong>.</p>
<h3 id="h-bearish-scenario">Bearish Scenario</h3>
<p>A failure to break through the $3,700 resistance could lead to <a href="https://www.cointribune.com/en/ethereum-rejected-4000-crypto-analysis-of-march-20-2024/" target="_blank" rel="noopener noreferrer nofollow">a bearish reversal</a>. A break below $3,320 and a close under $3,220 would also confirm this turnaround. They could lead to <strong>a drop towards $3,150 or $3,050.</strong></p>
<p>Ethereum’s price is experiencing a promising rise, but the $3,550 resistance is emerging as <a href="https://www.cointribune.com/en/crypto-ethereum-under-government-investigation/" target="_blank" rel="noopener noreferrer nofollow">a major hurdle</a>. To be continued…</p>
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Ethereum at over $3,400: Bulls coming back strong!

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