Ethereum

Resistance

Ethereum price is holding gains above the $3,500 zone. ETH could gain bullish momentum if it clears the $3,680 resistance zone in the near term. 
<ul> 
 <li>Ethereum retested the $3,450 and is currently moving higher.</li> 
 <li>The price is trading above $3,500 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $3,540 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could gain bullish momentum if it settles above the $3,680 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-eyes-fresh-increase">Ethereum Price Eyes Fresh Increase</h2> 
Ethereum price started another <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bullish-streak-3680/" target="_blank" rel="noopener ">downside correction</a> below the $3,550 zone. ETH retested the $3,450 zone before the bulls appeared, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-uphill-task-70k/" target="_blank" rel="noopener ">Bitcoin</a>. A low was formed near $3,459 and the price recently climbed higher. 
There was a move above the $3,520 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $3,680 swing high to the $3,459 low. There was also a break above a key bearish trend line with resistance at $3,540 on the hourly chart of ETH/USD. 
Ethereum is now trading above $3,520 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,600 level. The first major resistance is near the $3,630 level. It is near the 76.4% Fib retracement level of the downward move from the $3,680 swing high to the $3,459 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-600274" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449" alt="Ethereum Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_de3c50.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> 
The next key resistance sits at $3,680, 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 $3,880 resistance, Ethereum could even climb toward the $3,920 resistance. Any more gains might call for a test of $4,000. 
<h2 id="another-decline-in-eth">Another Decline In ETH?</h2> 
If Ethereum fails to clear the $3,630 resistance, it could start another decline. Initial support on the downside is near the $3,540 level. 
The first major support is near the $3,480 zone. The next key support could be the $3,450 zone. A clear move below the $3,450 support might send the price toward $3,325. 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 – $3,450 
Major Resistance Level – $3,680

Ethereum Price Gearing For Another Lift-Off to $4K: Increase Isn’t Over Yet

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