Ethereum

Momentum

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-climbs-above-3400-facing-next-major-hurdle">Ethereum Climbs Above $3,400 Facing Next Major Hurdle</a><br></p>
<p style="text-align: justify"> In a recent surge, <a href="https://en.bitcoinhaber.net/blackrocks-approval-of-ethereum-spot-etf-could-boost-price-analyst-predicts">Ethereum</a>‘s valuation has soared past the $3,400 mark, igniting optimism among crypto investors. This ascent indicates potential for further growth if the digital currency can breach the notable $3,580 resistance point. A sustained increase hinges on Ethereum’s ability to maintain its position above the $3,250 support threshold and continue trading above the 100-hour Simple Moving Average. </p> 
<h2 id="ethereum-gains-momentum">Ethereum Gains Momentum</h2> 
<p style="text-align: justify"> The ETH/USD pair showed a promising breakout above a key downtrend line, aligning with the $3,400 resistance, suggesting a strengthening uptrend. Analysts observe that Ethereum must now confront immediate resistance near the $3,500 level, clearing which could pave the way for a more substantial rally. </p> 
<h2 id="upward-trajectory-hinges-on-key-resistances">Upward Trajectory Hinges on Key Resistances</h2> 
<p style="text-align: justify"> After the $3,500 barrier, Ethereum will face its first significant resistance at approximately the $3,550 mark. Surpassing the $3,580 resistance could potentially propel Ethereum towards the $3,720 level, a move that could set the stage for an attempt to test the $4,000 resistance. This bullish scenario is contingent on Ethereum’s ability to maintain upward pressure. </p> 
<p style="text-align: justify"> Despite the current bullish indicators, caution remains if Ethereum fails to overcome the critical $3,500 resistance. In such an event, the digital asset may face a decline towards the $3,250 support zone. Should this support fail to hold, Ethereum could potentially slide down to the $3,000 level or even lower to $2,880. </p> 
<p style="text-align: justify"> Technical indicators currently show a positive trend, with the hourly MACD for the ETH/USD pair in the bullish zone and the hourly RSI standing above 50, suggesting a level of buying activity in the market.</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-climbs-above-3400-facing-next-major-hurdle">Ethereum Climbs Above $3,400 Facing Next Major Hurdle</a></h5>

Ethereum Climbs Above $3,400 Facing Next Major Hurdle

Table of Contents

BH NEWS

Other articles published on Mar 25, 2024

Cardano Dominates Developer Engagement with ADA Soaring 80%

Cardano Up More Than 5% In 24 hours

Binance to Drop TRC-20 USDC Support

Why Did Bitcoin (BTC) Price Soar Today? Here are Analysts’ Theories

Polkadot Community Rejoices as DED Trends on Twitter Amid Memecoin Snapshot Announcement

Solana Meme Coin Mania Continues, Coinbase's BASE L2 May Be the Next Big Opportunity For Memecoin...

Join our free newsletter for daily crypto updates!