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The post <a href="https://coinpedia.org/price-analysis/after-sec-case-drop-will-ethereumeth-hold-above-3500/">After SEC Case Drop, Will Ethereum(ETH) Hold Above $3500</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
On Wednesday, the crypto market was driven upward by the news that the US Security Exchange SEC had permanently dropped the case against Ethereum. The press release triggered a marginal rise in altcoins and Bitcoin(BTC) price today reclaimed 65000 USD with a steady move. 
Ethereum (ETH) spiked 3.5% amid the announcement and moved above the key price level of $35K, a crucial support level. The $3.5K mark is significant, as the ETH price has seen frequent upward movements after hitting this zone.&nbsp; 
<h2 class="wp-block-heading" id="h-3500-for-eth-is-a-safe-zone-for-bulls-nbsp">$3500 For ETH, Is a Safe Zone For Bulls.&nbsp;</h2> 
<a href="https://markets.coinpedia.org/ethereum/">Ethereum</a> price remains strong above $3500 and the long-term 50-day and 200-day SMA, but below the 20-day SMA indicating a short-term bullish reversal. 
On the downside, if 35K territory is lost,&nbsp; Ethereum plots strong support at $3432 and $3361, and on the upside the crypto will face resistance at $3654. A breach above this level will trace Eth’s price towards the resistance at $3720 which will further power up an easy surge to $3750. 
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 <img decoding="async" width="1024" height="439" src="https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-1024x439.png" alt="" class="wp-image-317437" srcset="https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-1024x439.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-300x129.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-768x329.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-1536x658.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-2048x877.png 2048w, https://image.coinpedia.org/wp-content/uploads/2024/06/19171055/ETHUSDT_2024-06-19_17-01-14-150x64.png 150w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
The ETH price in Bollinger bands shows a detailed analysis of the trend. The Price trading in the center of bands shows a steady movement, the bands expansion is consistent showing a neutral volatility and the price moving a little closer to the upper band reveals a strong support at $35000.&nbsp;&nbsp; 
We also run the Awesome Oscillator (AO), an indicator that shows market momentum and trends. Currently, Ethereum AO is below zero, referring to a bearish or sell of trend, but a close watch says the trend formed 3 green candles consecutively and moving above the negative zone toward zero line.&nbsp; 
<h2 class="wp-block-heading" id="h-is-there-any-further-decline-for-eth-nbsp">Is there any Further Decline for ETH?&nbsp;</h2> 
If the price falls below $3500, it could only restest but if bears take control there are strong support zones nearby.&nbsp; 
Current Technicals show a steady movement relying on the RSI in 51.97 in a neutral zone, MACD moving along the trend line, is gaining momentum.

After SEC Case Drop, Will Ethereum(ETH) Hold Above $3500

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