Ethereum

Resistance

Ethereum price is attempting a fresh increase wave above the $3,400 zone. ETH must clear the $3,580 resistance to continue higher in the near term. 
<ul> 
 <li>Ethereum is holding gains above the $3,250 support zone.</li> 
 <li>The price is trading above $3,400 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to rise if it settles above the $3,500 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-eyes-fresh-increase">Ethereum Price Eyes Fresh Increase</h2> 
Ethereum price remained stable above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-signals-uptrend-3580/" target="_blank" rel="noopener ">$3,250 support zone</a>. ETH formed a base and started a fresh increase above the $3,350 resistance level, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-upside-break-68k/" target="_blank" rel="noopener ">Bitcoin</a>. 
ETH climbed above the $3,400 resistance zone. There was a move above the 50% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low. There was a break above a key bearish trend line with resistance at $3,400 on the hourly chart of ETH/USD. 
Ethereum is now trading above $3,400 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,500 level. It is near the 76.4% Fib retracement level of the downward move from the $3,587 swing high to the $3,250 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-599449" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449" alt="Ethereum Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_a53be6.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
The first major resistance is near the $3,550 level. The next key resistance sits at $3,580, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,720 level. If there is a move above the $3,720 resistance, Ethereum could even climb toward the $3,880 resistance. Any more gains might call for a test of $4,000. 
<h2 id="another-decline-in-eth">Another Decline In ETH?</h2> 
If Ethereum fails to clear the $3,500 resistance, it could start another decline. Initial support on the downside is near the $3,400 level. 
The first major support is near the $3,250 zone. The next key support could be the $3,060 zone. A clear move below the $3,060 support might send the price toward $3,000. Any more losses might send the price toward the $2,880 level. 
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 level. 
Major Support Level – $3,400 
Major Resistance Level – $3,580

Ethereum Price Could Regain Strength If It Clears This Key Hurdle

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