Ethereum

Dogecoin

Test

Read

<ul>
 <li>Ethereum is nearing a critical resistance level at $3,780, potentially indicating a bullish trend if surpassed.</li>
 <li>Despite a recent 11.04% price decline and a 5.27% drop in market cap, Ethereum remains the second-largest cryptocurrency.</li>
 <li>Ethereum’s TVL has surged to $59.697 billion, reflecting increased investor confidence.</li>
</ul>
Ethereum (ETH) is nearing a significant resistance point at $3,780. Breaking and maintaining above this threshold could indicate a renewed bullish trend, potentially leading to additional gains.
Technical indicators on the daily chart are generally positive, with the 50-day EMA providing support and suggesting continued upward momentum. Last month, Ethereum saw an 11.04% decrease, along with a 5.27% drop in market capitalization over the past 24 hours. Despite these challenges, Ethereum remains a key player in the crypto market, boasting a market capitalization of $405.144 billion.
The Ethereum blockchain has recently shown a significant resurgence in Total Value Locked (TVL), which has climbed to an impressive $59.697 billion, overtaking Bitcoin. This increase in TVL reflects growing investor confidence and optimism in Ethereum’s market potential. Alongside this rise in TVL, the market capitalization of Ethereum’s stablecoins has also seen a parallel increase.
Technically, <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> recently halted its upward movement after reaching a high of $3,974, following a 25% price surge triggered by a breakout from a descending triangle pattern. Although there’s been a minor pullback, ETH is now testing significant resistance at $3,780. The ongoing golden crossover between the 50-day and 200-day EMAs signals a long-term positive trend, though the MACD’s bearish crossover advises caution.
The RSI has dipped below the 50 level, suggesting a temporary weakening in momentum. Critical support levels for ETH are identified at $2,800 and $3,100, while resistance levels to monitor are at $3,600 and $3,980.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/dogecoin-nears-critical-breakout-point-potential-price-surge-ahead/" rel="noopener noreferrer nofollow">Dogecoin Nears Critical Breakout Point: Potential Price Surge Ahead?</a></li>
 <li><a href="https://cryptonewsland.com/cardano-critical-support-alert-will-ada-break-0-525/" rel="noopener noreferrer nofollow">Cardano Critical Support Alert: Will ADA Break $0.525?</a></li>
 <li><a href="https://cryptonewsland.com/algo-turned-resistance-level/" rel="noopener noreferrer nofollow">ALGO Faces Critical Test at Former Support Turned Resistance Level</a></li>
 <li><a href="https://cryptonewsland.com/xrp-price-teeters-near-critical-zone-potential-for-recovery/" rel="noopener noreferrer nofollow">XRP Price Teeters Near Critical Zone: Potential for Recovery?</a></li>
 <li><a href="https://cryptonewsland.com/dogecoin-faces-critical-test-at-0-0900-will-it-hold/" rel="noopener noreferrer nofollow">Dogecoin Faces Critical Test at $0.0900: Will It Hold?</a></li>
</ul>
The post <a href="https://cryptonewsland.com/ethereum-eyes-critical-3780-resistance-a-bullish-breakout-on-the-horizon/" rel="noopener noreferrer nofollow">Ethereum Eyes Critical $3,780 Resistance: A Bullish Breakout on the Horizon?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Ethereum Eyes Critical $3,780 Resistance: A Bullish Breakout on the Horizon?

Crypto News Land

Other articles published on Jun 24, 2024

5 Best Crypto Coins For Staking With Highest Rewards in 2024 | OkayCoin

Forward ITMO Hackathon a resounding success with multiple award-winning templates

Football Icon Ronaldinho Pushes for Crypto Adoption, Sparks Debate

Hasbulla Net Worth 2024: The Riches of Mini Khabib

Ethereum Foundation alerts community to phishing email threat

Winklevoss Twins Refunded After Each Donating $1 Million in BTC To Donald Trump's Campaign

Join our free newsletter for daily crypto updates!