Ethereum

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-upward-trend-surges-past-significant-resistance" rel="noopener noreferrer nofollow">Ethereum’s Upward Trend Surges Past Significant Resistance</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereums-price-dilemma-understanding-the-downward-trend" rel="noopener noreferrer nofollow">Ethereum</a> (ETH), one of the most prominent cryptocurrencies, has successfully surpassed the pivotal resistance level of $3,550, instilling confidence among its investors. Trading above this threshold and the 100-hour Simple Moving Average, Ethereum’s price trajectory is on an upward swing, with the $3,590 level providing strong support. The currency’s consistent upward movement suggests potential for additional gains shortly.</p>
<h2 id="ethereum-s-path-to-elevated-valuations">Ethereum’s Path to Elevated Valuations</h2>
<p style="text-align: justify">ETH currently faces a major challenge at the $3,680 resistance level, a barrier that must be overcome for the <a href="https://en.bitcoinhaber.net/three-altcoins-gearing-up-for-a-rally-as-investor-interest-persists" rel="noopener noreferrer nofollow">cryptocurrency</a>‘s value to continue its ascent. Ethereum’s recent progress past the $3,580 mark has been bolstered by support from the broader crypto market, including the likes of <a href="https://en.bitcoinhaber.net/deciphering-bitcoins-historical-patterns-and-etf-speculation" rel="noopener noreferrer nofollow">Bitcoin</a>. Though occasional price dips occur, they may lead to market stabilization and a more robust upward trajectory.</p>
<p style="text-align: justify">The next significant resistance level for ETH/USD lies at around $3,640, with the most formidable resistance at $3,680. Clearing this level could set Ethereum on a path toward the $3,720 mark, with a sustained bullish drive possibly propelling it to the $3,800 resistance level.</p>
<h2 id="potential-pitfalls-for-ethereum-s-price-surge">Potential Pitfalls for Ethereum’s Price Surge</h2>
<p style="text-align: justify">Should Ethereum struggle to clear the $3,640 resistance, the cryptocurrency might face a potential downturn. The first line of defense is at $3,590, with major support found at the $3,550 mark. Yet, it’s the notable $3,500 support zone, aligning with the 50% Fibonacci retracement level of the recent climb, that serves as a critical indicator for Ethereum’s stability.</p>
<p style="text-align: justify">A dip below this $3,500 support could see Ethereum spiral down towards the $3,390 mark, with further declines potentially dragging it to $3,250. Current technical indicators such as the hourly MACD and the RSI suggest ongoing price volatility. At the time of reporting, Ethereum is valued at $2,602.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereums-upward-trend-surges-past-significant-resistance" rel="noopener noreferrer nofollow">Ethereum’s Upward Trend Surges Past Significant Resistance</a></h5>

Ethereum’s Upward Trend Surges Past Significant Resistance

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