Ethereum

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/how-does-ethereum-perform-after-etf-news" data-wpel-link="internal">How Does Ethereum Perform After ETF News?</a><br></p>
<p style="text-align: justify">Ethereum has recently exhibited a notable surge in its <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market performance</a>, much to the delight of its investors. This uptick is largely credited to recent <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">news</a> regarding the anticipated Ethereum Exchange-Traded Fund (ETF). The cryptocurrency, a heavyweight in the digital assets arena, has tested key resistance levels, pushing its price up to $3,840, and is steadily progressing toward the $4,000 mark while maintaining its gains.</p> 
<h2 id="what-sparked-ethereum-s-latest-uptrend">What Sparked Ethereum’s Latest Uptrend?</h2> 
<p style="text-align: justify">Ethereum has embarked on a fresh upward trajectory, trading above the $3,750 resistance zone. Currently, the price is holding above $3,700. The ETH/USD hourly chart indicates a short-term uptrend line with support around $3,710. This price rise followed reports of increased optimism for an ETH ETF, allowing it to break through resistance levels at $3,500 and $3,650, outperforming <a href="https://en.bitcoinhaber.net/bitcoin-price-analysis-whats-next-for-btc" data-wpel-link="internal">Bitcoin</a> and reaching a new weekly high of $3,838.</p> 
<h2 id="which-resistance-levels-are-critical">Which Resistance Levels Are Critical?</h2> 
<p style="text-align: justify">The immediate resistance for Ethereum lies near $3,840. If this level is breached, the next significant resistance stands at $3,880. Surpassing this could push the price higher, with the next major resistance at $3,950. Breaking through $3,950 might propel the price towards the pivotal $4,000 level.</p> 
<h2 id="key-insights-for-investors">Key Insights for Investors</h2> 
<p style="text-align: justify"> Investors might find the following actionable insights useful: </p> 
<ul> 
 <li>Monitor the $3,840 resistance level for potential upward movements.</li> 
 <li>Watch the $3,710 support level as a critical threshold for price stability.</li> 
 <li>A break above $4,000 could open new profit avenues, targeting $4,080 and $4,200.</li> 
 <li>Be aware of potential downward corrections if support levels fail to hold.</li> 
</ul> 
<h2 id="levels-to-watch-for-downward-signals-in-eth">Levels to Watch for Downward Signals in ETH</h2> 
<p style="text-align: justify">Analyses suggest that failing to surpass the $3,840 resistance could trigger a downward correction. The first major support level is at $3,710, close to the trend line. Should this level break, the next support is at $3,620. A clear move below $3,620 could bring the price down to $3,450, and further failure might see Ethereum retreat to $3,380, indicating a notable risk for investors in the short term.</p> 
<h2 id="what-do-technical-indicators-say">What Do Technical Indicators Say?</h2> 
<p style="text-align: justify">Technical indicators shed light on Ethereum’s status. The ETH/USD pair’s hourly MACD (Moving Average Convergence Divergence) is gaining bullish momentum, indicating possible short-term recovery. Meanwhile, the hourly RSI (Relative Strength Index) is correcting from the 75 region, suggesting an exit from the overbought zone and potential selling pressure.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/how-does-ethereum-perform-after-etf-news" data-wpel-link="internal">How Does Ethereum Perform After ETF News?</a></h5>

How Does Ethereum Perform After ETF News?

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