Ethereum

Resistance

Threshold

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-push-to-overcome-major-resistance-level" rel="noopener noreferrer nofollow">Ethereum’s Push to Overcome Major Resistance Level</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/ai-and-blockchain-the-rise-of-ai-driven-metaverse-and-web3-gaming" rel="noopener noreferrer nofollow">cryptocurrency</a> <a href="https://en.bitcoinhaber.net/ethereums-price-soars-rewarding-investors-with-notable-gains" rel="noopener noreferrer nofollow">Ethereum</a> is engaging in a critical struggle, attempting to breach a crucial resistance point that could significantly enhance its upward trajectory. Currently trading above $3,500, Ethereum is showing a tenacious stance supported by the 100-hour Simple Moving Average, suggesting a potential rally if it can sustain this level. The digital currency has already displayed strength by rebounding from a minor correction and moving beyond the $3,520 mark.</p>
<h2 id="ethereum-s-stand-above-key-price-threshold">Ethereum’s Stand Above Key Price Threshold</h2>
<p style="text-align: justify">Recent movements have Ethereum positioning itself over the $3,520 resistance with the backing of its moving average indicator. While it faces immediate hurdles around the $3,600 mark, market watchers are setting their sights on the more formidable barrier at $3,630. Ethereum’s most significant challenge, however, lies at the $3,680 mark, which, if surpassed, could potentially propel its price towards the coveted $4,000 level.</p>
<h2 id="defensive-strategies-and-technical-outlook">Defensive Strategies and Technical Outlook</h2>
<p style="text-align: justify">In the event of a downturn, Ethereum can expect to find initial support at approximately $3,480. A more pronounced decline could lead to a test of the pivotal $3,450 support level, with potential setbacks possibly dragging the price down to a lower support zone at $3,325 or even $3,250. The <a href="https://en.bitcoinhaber.net/anticipation-builds-for-potential-bitcoin-etf-approval-and-its-impact-on-crypto-markets" rel="noopener noreferrer nofollow">technical analysis</a> indicates a waning bullish trend with the hourly MACD, while the hourly RSI remains above 50, hinting at possible short-term price fluctuation uncertainty.</p>
<p style="text-align: justify">The main support and resistance levels are established at $3,450 and $3,680, respectively. It appears that investors are closely monitoring Ethereum’s capability to breach these levels, which is likely to determine the coin’s immediate price direction.</p>
<p style="text-align: justify">In conclusion, Ethereum’s current market behavior is reflective of a cryptocurrency at a crossroads, with significant implications for both the upward and downward potential hinging on its ability to navigate through these key resistance and support levels.</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-push-to-overcome-major-resistance-level" rel="noopener noreferrer nofollow">Ethereum’s Push to Overcome Major Resistance Level</a></h5>

Ethereum’s Push to Overcome Major Resistance Level

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