Ethereum

Momentum

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-climbs-above-3400-facing-next-major-hurdle">Ethereum Climbs Above $3,400 Facing Next Major Hurdle</a><br></p>
<p style="text-align: justify"> In a recent surge, <a href="https://en.bitcoinhaber.net/blackrocks-approval-of-ethereum-spot-etf-could-boost-price-analyst-predicts">Ethereum</a>‘s valuation has soared past the $3,400 mark, igniting optimism among crypto investors. This ascent indicates potential for further growth if the digital currency can breach the notable $3,580 resistance point. A sustained increase hinges on Ethereum’s ability to maintain its position above the $3,250 support threshold and continue trading above the 100-hour Simple Moving Average. </p> 
<h2 id="ethereum-gains-momentum">Ethereum Gains Momentum</h2> 
<p style="text-align: justify"> The ETH/USD pair showed a promising breakout above a key downtrend line, aligning with the $3,400 resistance, suggesting a strengthening uptrend. Analysts observe that Ethereum must now confront immediate resistance near the $3,500 level, clearing which could pave the way for a more substantial rally. </p> 
<h2 id="upward-trajectory-hinges-on-key-resistances">Upward Trajectory Hinges on Key Resistances</h2> 
<p style="text-align: justify"> After the $3,500 barrier, Ethereum will face its first significant resistance at approximately the $3,550 mark. Surpassing the $3,580 resistance could potentially propel Ethereum towards the $3,720 level, a move that could set the stage for an attempt to test the $4,000 resistance. This bullish scenario is contingent on Ethereum’s ability to maintain upward pressure. </p> 
<p style="text-align: justify"> Despite the current bullish indicators, caution remains if Ethereum fails to overcome the critical $3,500 resistance. In such an event, the digital asset may face a decline towards the $3,250 support zone. Should this support fail to hold, Ethereum could potentially slide down to the $3,000 level or even lower to $2,880. </p> 
<p style="text-align: justify"> Technical indicators currently show a positive trend, with the hourly MACD for the ETH/USD pair in the bullish zone and the hourly RSI standing above 50, suggesting a level of buying activity in the market.</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-climbs-above-3400-facing-next-major-hurdle">Ethereum Climbs Above $3,400 Facing Next Major Hurdle</a></h5>

Ethereum Climbs Above $3,400 Facing Next Major Hurdle

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BH NEWS

Alte articole publicate pe 25 mar. 2024

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