Ethereum

Momentum

Resistance

Pace

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-shows-resilience-with-market-surge" rel="noopener noreferrer nofollow">Ethereum Shows Resilience with Market Surge</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/sec-delays-decision-on-eth-etf-trading-application" rel="noopener noreferrer nofollow">Ethereum</a>, a major force in the <a href="https://en.bitcoinhaber.net/bitcoin-battles-amid-etf-approval-hype-and-sec-account-hack" rel="noopener noreferrer nofollow">cryptocurrency</a> market, has demonstrated a promising recovery, especially after breaking the $3,500 resistance level. This advancement suggests a potential continuation of its upward trajectory. Despite this progress, the future price path of Ethereum remains uncertain.</p>
<h2 id="ethereum-s-momentum-gathers-pace">Ethereum’s Momentum Gathers Pace</h2>
<p style="text-align: justify">The cryptocurrency’s rebound has been particularly strong above the $3,350 mark, signaling a solid foundation for further gains. With Ethereum now trading over $3,450 and above its 100-hour Simple Moving Average, the market is observing a bullish takeover.</p>
<p style="text-align: justify">Examining the hourly chart, Ethereum’s recent surge through a bullish flag pattern at the $3,480 level posits that further ascension is likely if it can overcome the $3,580 resistance.</p>
<h2 id="key-support-and-resistance-to-watch">Key Support and Resistance to Watch</h2>
<p style="text-align: justify">For Ethereum to sustain its climb, holding onto crucial support levels is essential. Presently, the $3,500 mark serves as a notable foundation, with the zone between $3,350 and $3,250 offering additional reinforcement.</p>
<p style="text-align: justify">On the ascent, the cryptocurrency might face immediate resistance near $3,550, but a more significant challenge awaits at the $3,580 level. Breaching this barrier could propel Ethereum towards $3,670 and potentially higher targets like $3,800, and even the $4,000 mark; a prior test at the $4,080 threshold might prove necessary.</p>
<h2 id="downward-trend-scenarios-for-ethereum">Downward Trend Scenarios for Ethereum</h2>
<p style="text-align: justify">Should Ethereum fail to clear the $3,580 hurdle, the possibility of a downward correction emerges. Analysts speculate that initial short-term support might present itself around $3,410.</p>
<p style="text-align: justify">Primary support areas in the event of a downturn include the $3,320 region and the 50% Fibonacci retracement level from the recent climb. A descent past these supports could drag Ethereum’s price to $3,060 and, if losses extend, the $3,000 benchmark might be within reach. Currently, Ethereum’s hourly MACD indicates a bullish lean with the RSI above 50, yet it remains to be seen how these technical indicators will influence future pricing.</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-shows-resilience-with-market-surge" rel="noopener noreferrer nofollow">Ethereum Shows Resilience with Market Surge</a></h5>

Ethereum Shows Resilience with Market Surge

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