Ethereum

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-surges-past-3500-as-altcoin-market-heats-up" rel="noopener noreferrer nofollow">Ethereum Surges Past $3,500 as Altcoin Market Heats Up</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/exploring-the-cryptocurrency-market-anticipating-volatility-in-the-upcoming-week" rel="noopener noreferrer nofollow">cryptocurrency</a> <a href="https://en.bitcoinhaber.net/ethereums-market-dynamics-and-future-outlook" rel="noopener noreferrer nofollow">Ethereum</a> recently witnessed a substantial surge, crossing the significant $3,500 threshold. This milestone signals the highest value the altcoin has achieved after a considerable period of stagnancy. Despite this upward trend, experts foresee potential corrective trends that might emerge, with Ethereum finding robust support around the $3,250 mark.</p>
<h2 id="ethereum-breaks-resistance-and-climbs">Ethereum Breaks Resistance and Climbs</h2>
<p style="text-align: justify">Following <a href="https://en.bitcoinhaber.net/bitcoin-on-track-to-surge-top-analyst-projects-threefold-increase-in-value" rel="noopener noreferrer nofollow">Bitcoin</a>‘s lead, Ethereum broke past the $3,200 resistance level, climbing over various obstacles until it reached beyond $3,500. However, the ascent was met with expected corrections, pulling the price back to approximately $3,420. Analysts note that Ethereum is maintaining its position above the $3,300 mark and sustaining above the 100-hour Simple Moving Average, indicating that the price may stabilize above the ascending trend line support of $3,260 shown on the hourly ETH/USD chart.</p>
<h2 id="resistance-hurdles-and-potential-declines">Resistance Hurdles and Potential Declines</h2>
<p style="text-align: justify">While the upward momentum is notable, Ethereum faces resistance near the $3,420 mark. Overcoming this barrier could propel the cryptocurrency towards the $3,500 zone and potentially up to the $3,620 resistance level. Conversely, failure to breach this resistance might trigger a corrective downturn. Support levels are eyed first at $3,310, with stronger support forecasted at $3,260 and $3,250. A dip below these benchmarks could lead to prices around the $3,120 region.</p>
<p style="text-align: justify">Market watchers are advised to monitor the key support level at $3,260 and the critical resistance at $3,420. The hourly MACD for ETH/USD is displaying a slowdown in the bullish momentum, and the RSI is presently below the midpoint, suggesting an immediate softening in price strength. As of the latest updates, Ethereum trades at $3,373.</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-past-3500-as-altcoin-market-heats-up" rel="noopener noreferrer nofollow">Ethereum Surges Past $3,500 as Altcoin Market Heats Up</a></h5>

Ethereum Surges Past $3,500 as Altcoin Market Heats Up

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