Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-key-resistance-levels/" data-wpel-link="internal">Ethereum Faces Key Resistance Levels</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/binance-ceosundan-bu-karar-icin-uyari-volatiliteye-sebep-olabilir" data-wpel-link="internal">The cryptocurrency</a> market, particularly for <strong><a href="https://coin-turk.com/ethereum-eth-neden-uzun-vadede-bitcoin-btcden-iyi-bir-yatirimdir" data-wpel-link="internal">Ethereum</a></strong> investors, seems to be heading towards an exciting period. The price of <a href="https://en.coin-turk.com/ethereum-attracts-major-whale-investments/" data-wpel-link="internal">Ethereum</a> has recently entered a consolidation phase above the $3,450 support zone. However, the real issue now is whether Ethereum can overcome the barriers it faces to start a new rally. So, what are these barriers?</p> 
<h2 style="text-align: justify" id="ethereum-price-faces-critical-barriers">Ethereum Price Faces Critical Barriers</h2> 
<p style="text-align: justify">Ethereum is trading above $3,500. However, the immediate point of attention is overcoming resistance zones between $3,560 and $3,620. A notable aspect on the 4-hour chart of the <a href="https://en.coin-turk.com/ethereum-futures-etf-approval-boosts-eth-price-and-traders-face-liquidation/" data-wpel-link="internal">ETH</a>/USD pair is the emergence of a new connecting bearish trend line at the $3,550 resistance. This appears to be an important test for Ethereum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339668 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-usdt-coin-turk-com-1-1.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Although Ethereum’s price has attempted to rise above the $3,550 resistance and even managed to climb above $3,600, these increases remained limited like those of <a href="https://en.coin-turk.com/bitcoin-experiences-volatility-amid-spot-etf-talks-and-upcoming-halving/" data-wpel-link="internal">Bitcoin</a>. The price is seen to have climbed to $3,614 before cutting gains at these levels. However, it is recorded that the price then pulled back to $3,476.</p> 
<h2 style="text-align: justify" id="resistance-levels-crucial-for-eth">Resistance Levels Crucial for ETH</h2> 
<p style="text-align: justify">Currently, Ethereum is trading above $3,500, but resistance levels should be closely monitored going forward. In particular, the $3,550 resistance and the levels corresponding to the 50% Fib retracement level of the recent decline are significant.</p> 
<p style="text-align: justify">Looking at critical points, Ethereum needs to overcome the first major resistance level around $3,620. Then, the levels of $3,650 and even $3,720 could be tested. However, the key point seems to be surpassing the $3,750 level for Ethereum to gain momentum. In this case, the price could be expected to rise towards the $3,820 region and perhaps even observe a move to the $4,000 resistance.</p> 
<h2 style="text-align: justify" id="if-eth-fails-to-break-resistance">If ETH Fails to Break Resistance</h2> 
<p style="text-align: justify">If Ethereum cannot surpass the $3,550 resistance, it could enter a downward trend once again. Currently, the first support level Ethereum could encounter if it moves downwards is around $3,500. However, a more pronounced decline could lead to a pullback towards the $3,475 zone.</p> 
<p style="text-align: justify">A break below this level could drag ETH to the critical support region of $3,420. And if this support is also broken, it is anticipated that Ethereum could retreat to the $3,320 level. Of course, further losses could potentially lead to a journey towards the $3,240 level.</p> 
<p style="text-align: justify"><strong>Ethereum’s Technical Indicators</strong></p> 
<p style="text-align: justify">Looking at technical indicators, the 4-hour MACD for ETH/USD is losing momentum in the bearish zone. However, the 4-hour RSI is currently above the 50 level. This could indicate that some buyers are still entering the market.</p> 
<p style="text-align: justify">Regarding key levels, the main support level for ETH is currently around $3,475. On the other hand, the main resistance level is determined to be $3,550.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-faces-key-resistance-levels/" data-wpel-link="internal">Ethereum Faces Key Resistance Levels</a></h5>

Ethereum Faces Key Resistance Levels

Table of Contents

COINTURK NEWS

Other articles published on Apr 12, 2024

Ethereum’s Pectra Upgrade: Enhanced UX, Wallet Innovation, and Community Debate (ETH)

Generation Z Likely To Own Cryptocurrencies Than Stocks; Why?

Eyeing Growth Beyond Toncoin and Dogecoin: Investors Favor BLP Presale

Solana Project Jupiter Won’t Be Able To Keep Up With Octoblock’s cFyF

Pepe Price Prediction: PEPE Surges 4% As Coinbase Plans Pepe Perpetual Futures And The Dogeverse ...

Hong Kong to Approve Spot Bitcoin, Ether ETFs as Soon as Monday: Bloomberg

Join our free newsletter for daily crypto updates!