Ethereum

Resistance

Ethereum price is showing positive signs above the $3,550 zone. ETH must clear the $3,680 resistance to continue higher in the near term. 
<ul> 
 <li>Ethereum started another increase above the $3,550 resistance zone.</li> 
 <li>The price is trading above $3,550 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a major bullish trend line forming with support at $3,590 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to rise if it settles above the $3,680 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-remains-in-uptrend">Ethereum Price Remains In Uptrend</h2> 
Ethereum price started another increase above the $3,500 resistance zone. ETH bulls were able to push the price in a positive zone above the $3,580 level, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-70k/" target="_blank" rel="noopener ">Bitcoin</a>. 
ETH climbed above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-momentum-4k/" target="_blank" rel="noopener ">$3,650 resistance zone</a>. A high was formed at $3,680 before the price started a downside correction. There was a minor decline below the $3,600 level. The price declined below the 23.6% Fib retracement level of the upward move from the $3,302 swing low to the $3,680 high. 
Ethereum is now trading above $3,580 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support at $3,590 on the hourly chart of ETH/USD. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-599912" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449" alt="Ethereum Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_4414f2.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
On the upside, immediate resistance is near the $3,640 level. The first major resistance is near the $3,680 level. The next key resistance sits at $3,720, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,800 level. If there is a move above the $3,800 resistance, Ethereum could even climb toward the $3,880 resistance. Any more gains might call for a test of $4,000. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported In ETH?</h2> 
If Ethereum fails to clear the $3,640 resistance, it could start another decline. Initial support on the downside is near the $3,590 level and the trend line. 
The first major support is near the $3,550 zone. The next key support could be the $3,500 zone or the 50% Fib retracement level of the upward move from the $3,302 swing low to the $3,680 high. A clear move below the $3,500 support might send the price toward $3,390. Any more losses might send the price toward the $3,250 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $3,590 
Major Resistance Level – $3,680

Ethereum Price May Have Another Chance For A Bullish Streak: Here’s How

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