Ethereum

Resistance

Note

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-surges-beyond-3600" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Surges Beyond $3,600</a><br></p>
<p style="text-align: justify">Last night, Ethereum (ETH) experienced a notable price increase, driven by market activity and growing optimism surrounding the potential approval of an ETH ETF. This surge saw Ethereum’s value rise by over 20%, enabling it to break through the $3,500 resistance zone and start trading above the $3,600 mark.</p>
<h2 id="what-are-the-key-resistance-points">What Are the Key Resistance Points?</h2>
<p style="text-align: justify">After breaking through the $3,200 resistance zone, Ethereum embarked on a new upward trend, bolstered by recent actions from the U.S. Securities and Exchange Commission (SEC) that fueled expectations for an ETH ETF. This momentum allowed Ethereum to surpass the $3,350 resistance zone, delivering a strong upward movement.</p>
<p style="text-align: justify">Ethereum’s performance outstripped that of <a href="https://en.bitcoinhaber.net/bitcoin-struggles-to-break-critical-price-barriers" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, as it rose over 20%, breaking past the $3,500 resistance zone to reach $3,721. The cryptocurrency is currently trading above $3,600 and the 100-hour Simple Moving Average. The ETH/USD pair’s hourly chart indicates a short-term ascending channel with support at $3,640, potentially aiding further price increases.</p>
<h2 id="how-could-eth-face-declines">How Could ETH Face Declines?</h2>
<p style="text-align: justify">If Ethereum is unable to break the $3,720 resistance, it may initiate a downward correction. Investors should pay close attention to specific levels and technical indicators in such a scenario. The initial support on the downside is around the $3,640 mark and the channel region, frequently tested during short-term corrections. If this support is breached, the next significant support level is at $3,600.</p>
<p style="text-align: justify">Breaking the $3,600 support could lead the price down to $3,500 or even $3,400. This critical support acts as a safety net for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="external">investors</a>, but a clear move below it could prompt further declines.</p>
<h2 id="concrete-insights-for-investors">Concrete Insights for Investors</h2>
<p style="text-align: justify"><strong>Technical Indicators Analysis</strong></p>
<p style="text-align: justify">– Monitor the $3,600 support level closely; breaching it could lead to substantial losses.<br> – Watch for a break above $3,720, as this could signal renewed upward momentum.<br> – Note the hourly MACD, which is losing bullish momentum and suggests a potential price correction.<br> – Pay attention to the hourly RSI correction from the 85 region, indicating a possible downward pressure on the price.</p>
<p style="text-align: justify">In conclusion, while Ethereum’s price surge beyond $3,600 is encouraging, investors should exercise caution and keep an eye on key support and resistance levels. The main support at $3,600 is crucial, and any breach could lead to further losses. Conversely, surpassing the $3,720 resistance may reignite bullish momentum.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-surges-beyond-3600" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Surges Beyond $3,600</a></h5>

Ethereum Surges Beyond $3,600

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