Ethereum

Bitcoin

Resistance

Rise

Ethereum price started a fresh increase from the $3,365 zone. ETH outperformed Bitcoin and might aim for a move toward the $3,800 resistance zone. 
<ul> 
 <li>Ethereum started a recovery after the bulls appeared near the $3,365 zone.</li> 
 <li>The price is trading above $3,550 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could extend gains if it stays above the $3,550 pivot level.</li> 
</ul> 
<h2 id="ethereum-price-outperforms-bitcoin">Ethereum Price Outperforms Bitcoin</h2> 
Ethereum price extended losses below <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-decline-3420/" target="_blank" rel="noopener ">$3,550 and $3,500 resistance levels</a>. However, ETH bulls took a strong stand near the $3,350 zone. A low was formed at $3,364 level and the price started a fresh increase, outperforming <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-decline-65k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move above the $3,450 and $3,550 resistance levels. There was a break above a key bearish trend line with resistance near $3,550 on the hourly chart of ETH/USD. The pair even climbed above the $3,600 level and tested the $3,650 resistance. 
A high was formed at $3,649 before there was a pullback below $3,620. The price declined below the $3,600 support level and the 23.6% Fib retracement level of the upward move from the $3,364 swing low to the $3,649 high. 
Ethereum is now trading above $3,550 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price might face resistance near the $3,620 level. 
The first major resistance is near the $3,650 level. An upside break above the $3,650 resistance might send the price higher. The next key resistance sits at $3,720, above which the price might gain traction and rise toward the $3,800 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-624955 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_5355b6.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A clear move above the $3,800 level might send Ether toward the $3,880 resistance. Any more gains could send Ether toward the $3,950 resistance zone. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited In ETH?</h2> 
If Ethereum fails to clear the $3,620 resistance, it could continue to move down. Initial support on the downside is near $3,550. The first major support is at $3,500 and the 50% Fib retracement level of the upward move from the $3,364 swing low to the $3,649 high. 
A clear move below the $3,500 support might push the price toward $3,420. Any more losses might send the price toward the $3,365 level in the near term. 
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 near the 50 zone. 
Major Support Level – $3,550 
Major Resistance Level – $3,650

Ethereum On The Rise and Outperforms Bitcoin: Signals Indicate Fresh Increase

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