Ethereum

Rally

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-clings-to-3500-support-as-bulls-eye-breakthrough" rel="noopener noreferrer nofollow">Ethereum Clings to $3,500 Support as Bulls Eye Breakthrough</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereum-sees-a-quarter-of-its-supply-staked" rel="noopener noreferrer nofollow">Ethereum</a>, the prominent <a href="https://en.bitcoinhaber.net/japanese-financial-behemoth-pilots-stablecoin-integration-for-enhanced-blockchain-use" rel="noopener noreferrer nofollow">cryptocurrency</a>, has successfully sustained its foothold over the critical $3,500 support level, showcasing a new wave of upward traction. Market watchers now turn their attention to a possible breach of the $3,680 resistance, which could signal further bullish advancement. As trading activity persists, Ethereum’s value hovers above $3,600, with indications of solid bullish control underpinned by its positioning over the 100-hour Simple Moving Average.</p>
<h2 id="is-ethereum-poised-for-a-rally-beyond-recent-highs">Is Ethereum Poised for a Rally Beyond Recent Highs?</h2>
<p style="text-align: justify">Technical analysis reveals a decisive upward trend line on the ETH/USD hourly chart, with support stationed at $3,560, hinting at robust short-term bullish momentum. Ethereum’s immediate challenge lies at surpassing the $3,680 resistance, which could catalyze a sustained uptrend. The rise in Ethereum’s market price initiated from a break above the $3,550 zone, and it has since cleared the hurdle at $3,650, currently testing the waters at the $3,680 resistance mark.</p>
<h2 id="ethereum-s-support-levels-under-scrutiny">Ethereum’s Support Levels Under Scrutiny</h2>
<p style="text-align: justify">Despite Ethereum’s recent inability to crack the critical $3,680 barrier, investors ponder the extent of potential pullbacks. Immediate support is found at around the $3,600 level, with more robust support close to $3,580 and along the emerging trend line. A drop beneath these supports targets the $3,500 level as the next bastion of defense.</p>
<p style="text-align: justify">Notably, the $3,500 mark corresponds to the 50% Fibonacci retracement of the recent climb, marking it as a significant threshold. Breaching this level could precipitate a decline towards $3,380, and potentially even down to $3,120. Technical indicators, like the hourly MACD and RSI for ETH/USD, are currently reflecting bullish momentum, painting a cautiously optimistic short-term outlook. As of the latest update, Ethereum is trading at $3,638 with key support and resistance levels at $3,600 and $3,680 respectively.</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-clings-to-3500-support-as-bulls-eye-breakthrough" rel="noopener noreferrer nofollow">Ethereum Clings to $3,500 Support as Bulls Eye Breakthrough</a></h5>

Ethereum Clings to $3,500 Support as Bulls Eye Breakthrough

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