Ethereum

Resistance

Ethereum price is signaling positive moves above the $3,550 zone. ETH could gain bullish momentum if it clears the $3,650 resistance zone in the near term. 
<ul> 
 <li>Ethereum started another increase from the $3,500 support zone.</li> 
 <li>The price is trading above $3,550 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $3,550 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could gain bullish momentum if it settles above the $3,650 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-could-accelerate-higher">Ethereum Price Could Accelerate Higher</h2> 
Ethereum price remained strong above the $3,500 zone. ETH formed a base and recently started a fresh increase above the $3,600 resistance zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-70k-2/" target="_blank" rel="noopener ">Bitcoin</a>. 
However, the bears are still active near the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-lift-off-4k/" target="_blank" rel="noopener ">$3,650 and $3,680 resistance levels</a>. A high was formed near $3,654 and the price is now consolidating gains. It moved a few points lower and traded below the 23.6% Fib retracement level of the upward move from the $3,491 swing low to the $3,654 high. 
Ethereum is still trading above $3,550 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,550 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,491 swing low to the $3,654 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-600656" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum.png?resize=1024%2C461?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 $3,630 level. The first major resistance is near the $3,650 level. 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 $3,800 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-limited-in-eth">Are Dips Limited In ETH?</h2> 
If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. 
The first major support is near the $3,575 zone. The next key support could be the $3,550 zone and the trend line. A clear move below the $3,550 support might send the price toward $3,440. Any more losses might send the price toward the $3,320 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 – $3,550 
Major Resistance Level – $3,650

Ethereum Price Stays Bullish As Indicators Point To Fresh Upside

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