Ethereum

bullish

Green

Resistance

Ethereum price started a decent upward move from the $3,080 support zone. ETH is recovering and might aim for a test of the $3,500 resistance zone. 
<ul> 
 <li>Ethereum is showing positive signs from the $3,150 pivot zone.</li> 
 <li>The price is trading above $3,250 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to move up if it stays above the $3,280 support zone.</li> 
</ul> 
<h2 id="ethereum-price-eyes-steady-increase-to-3-500">Ethereum Price Eyes Steady Increase To $3,500</h2> 
Ethereum price formed a base above the $3,080 support zone. A low is formed at $3,087 and the price started a decent increase above the $3,220 resistance zone, but lagged strength like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pump-70k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD. The pair was able to clear the 50% Fib retracement level of the downward move from the $3,540 swing high to the $3,087 low. 
Ethereum is now trading above $3,250 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drops-3200-2/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. If there are more upsides, the price could face resistance near the $3,375 level or the 61.8% Fib retracement level of the downward move from the $3,540 swing high to the $3,087 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631960 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e72ee1.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first major resistance is near the $3,400 level. The next major hurdle is near the $3,450 level. A close above the $3,450 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the coming days. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited In ETH?</h2> 
If Ethereum fails to clear the $3,400 resistance, it could start a downside correction. Initial support on the downside is near $3,280. The first major support sits near the $3,250 zone. 
A clear move below the $3,180 support might push the price toward $3,120. Any more losses might send the price toward the $3,080 support level in the near term. The next key support sits at $3,050. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 zone. 
Major Support Level – $3,250 
Major Resistance Level – $3,400

Ethereum To Match Bitcoin’s Strength and Surge? Indicators Turn Green

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