Ethereum

Cryptocurrency

Momentum

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-gains-momentum-above-3500-support-level/" data-wpel-link="internal">Ethereum Gains Momentum Above $3,500 Support Level</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/smart-layer-introduces-enhanced-erc-404-application-to-empower-token-holders/" data-wpel-link="internal">Cryptocurrency</a> <strong><a href="https://coin-turk.com/ethereum-yorum-2021-eth-fiyatindaki-dususe-ragmen-beklentiler-hala-yuksek" data-wpel-link="internal">Ethereum</a></strong> has managed to maintain its position above the $3,500 support zone, capturing a new upward momentum. Now, the focus is on whether it can surpass the resistance level at $3,680. According to the latest data, we see <a href="https://en.coin-turk.com/vaneck-to-donate-significant-portion-of-ethereum-strategy-etfs-profit-to-the-protocol-guild/" data-wpel-link="internal">Ethereum</a> gaining speed above the $3,500 support zone. The price is trading above $3,600 and the 100-hour Simple Moving Average. This situation indicates that the bulls have secured a strong position.</p> 
<h2 style="text-align: justify" id="will-ethereum-s-altcoin-king-continue-its-upward-momentum">Will Ethereum’s Altcoin King Continue Its Upward Momentum?</h2> 
<p style="text-align: justify">On the <a href="https://en.coin-turk.com/ethereum-co-founder-vitalik-buterins-x-account-allegedly-hacked/" data-wpel-link="internal">ETH</a>/USD hourly chart, there is a significant upward trend line forming with support at $3,560. This suggests that Ethereum has captured a strong upward momentum in the near term. However, for Ethereum to climb higher, it needs to break the resistance at $3,680. If Ethereum can surpass this resistance, the likelihood of continuing its upward movement will increase.</p> 
<p style="text-align: justify">The steady increase in <strong>Ethereum</strong>‘s price began above the $3,550 resistance zone, and we observe that the price has also surpassed the $3,650 resistance level. Currently, the price is consolidating gains and testing the $3,680 resistance level.</p> 
<h2 style="text-align: justify" id="will-ethereum-s-declines-remain-limited">Will Ethereum’s Declines Remain Limited?</h2> 
<p style="text-align: justify">The cryptocurrency Ethereum’s price has recently failed to break the critical resistance at $3,680, causing concern among some investors. So, how limited could the declines in ETH be?</p> 
<p style="text-align: justify">For now, the first support level on the downside is around $3,600. However, a more significant support is found at the $3,580 region and near the trend line. Below this level, there is support at $3,500.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-333427 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-coin-turk-com-1-2.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">For the leading <a href="https://coin-turk.com/osmosis-osmo-coin-nedir" data-wpel-link="internal">altcoin</a> Ethereum, the 50% Fibonacci retracement level of the rise from $3,301 to $3,680, which is $3,500, is also noteworthy. Therefore, if the price falls below the $3,500 support, it could lead to a drop to $3,380. Further losses could pull the price down to the $3,120 level.</p> 
<p style="text-align: justify">Looking at the technical indicators, the hourly MACD for ETH/USD is gaining momentum in the bullish zone. Additionally, the hourly RSI is currently above the 50 level. These indicators seem to paint a somewhat positive picture for ETH in the short term. At the time of writing, the main support level for the crypto ETH is $3,600, while the main resistance level is $3,680. Ethereum, the leader in the <strong><a href="https://coin-turk.com/populer-altcoin-kurucu-ortagindan-iddiali-cikis-kripto-apple-olacak" data-wpel-link="internal">altcoin</a></strong> world, is trading at $3,638.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-gains-momentum-above-3500-support-level/" data-wpel-link="internal">Ethereum Gains Momentum Above $3,500 Support Level</a></h5>

Ethereum Gains Momentum Above $3,500 Support Level

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