Ethereum

Bitcoin

Momentum

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-gains-momentum/" data-wpel-link="internal">Ethereum Price Gains Momentum</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bitcoinde-btc-piyasa-dengesi-olusacak-mi-btcde-guncel-veriler" data-wpel-link="internal">Bitcoin</a></strong> and <a href="https://coin-turk.com/stellar-aginda-buyuk-artis" data-wpel-link="internal">altcoin</a> markets continue to be active. The king of altcoins, <a href="https://en.coin-turk.com/bitcoin-and-ethereum-anticipated-breakout-backed-by-on-chain-data/" data-wpel-link="internal">Ethereum</a> (ETH), has also taken part in this activity, surpassing the $3,500 mark and thus reaching a high level after a long break. However, following this rise, corrective movements are expected, and it is predicted that the price could find strong support around $3,250.</p> 
<h2 style="text-align: justify" id="ethereum-s-price-accelerates">Ethereum’s Price Accelerates</h2> 
<p style="text-align: justify">Ethereum’s price gained momentum after breaking through the $3,200 resistance zone, following the path of <a href="https://en.coin-turk.com/analysis-of-bitcoin-etfs-and-volatility-trends/" data-wpel-link="internal">Bitcoin</a>. With this movement, ETH overcame several hurdles, eventually surpassing the $3,500 level. However, after surpassing these levels, corrective movements occurred, and the price fell back to around $3,420.</p> 
<p style="text-align: justify">According to technical analyses, the altcoin Ethereum is currently trading above $3,300 and is also above the 100-hour Simple Moving Average. On the hourly chart of the ETH/USD pair, a significant ascending trend line is forming with support at $3,260. This suggests that the price corrections could be limited.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-321509 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-eth-coin-turk-com-.png" alt="" width="1651" height="692"></p> 
<p style="text-align: justify">However, significant resistance levels on the upside should not be ignored. The resistance near the $3,420 level is an important hurdle. If this resistance is overcome, it is thought that the altcoin Ethereum could gain momentum towards around $3,500. In this case, it is predicted that the price could even rise towards the $3,620 resistance.</p> 
<h2 style="text-align: justify" id="downward-scenarios-and-key-levels-to-watch">Downward Scenarios and Key Levels to Watch</h2> 
<p style="text-align: justify">Investors in the altcoin Ethereum price should also consider downward scenarios. If Ethereum cannot surpass the $3,420 resistance, it is likely to initiate a downward correction. In this case, the first support level will be around $3,310, with stronger support levels expected at the $3,260 and $3,250 regions. A move below these levels could send the price towards around $3,120.</p> 
<p style="text-align: justify">Looking at the chart provided above and examining technical indicators, the hourly MACD for ETH/USD is losing momentum in the bullish zone, and the hourly RSI is currently below the 50 level. This suggests a short-term weakness in the price.</p> 
<p style="text-align: justify">The key support level for altcoin Ethereum to watch is $3,260, and the key resistance level is $3,420. If ETH surpasses this resistance, it will retest levels above $3,500. <a href="https://en.coin-turk.com/what-is-beam-coin/" data-wpel-link="internal">Altcoin</a> Ethereum is trading at $3,373 at the time of writing this article.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-gains-momentum/" data-wpel-link="internal">Ethereum Price Gains Momentum</a></h5>

Ethereum Price Gains Momentum

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