Ethereum

Resistance

Gains

Ethereum price is still struggling to clear the $3,500 resistance zone. ETH is now consolidating and might make another attempt to clear $3,550. 
<ul> 
 <li>Ethereum is consolidating below the $3,550 resistance zone.</li> 
 <li>The price is trading above $3,450 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to rise if there is a clear move above the $3,500 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-holds-gains-above-3-450">Ethereum Price Holds Gains Above $3,450</h2> 
Ethereum price remained in a bullish zone above the $3,420 resistance zone. ETH made another attempt to clear the $3,550 resistance zone but failed like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-66k/" target="_blank" rel="noopener ">Bitcoin</a>. The price reacted to the downside and tested the $3,425 level. 
A low is formed near $3,427 and the price is rising. There was a move above the $3,450 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $3,563 swing high to the $3,427 low. There is also a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD. 
Ethereum is now trading above $3,450 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-climbs-3700/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. If the price stays above the 100-hourly Simple Moving Average, it could attempt a fresh increase. On the upside, the price is facing resistance near the $3,500 level or the 50% Fib retracement level of the downward move from the $3,563 swing high to the $3,427 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631027 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461" alt="Ethereum Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_e110e4.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 $3,550 level. The next major hurdle is near the $3,565 level. A close above the $3,565 level might send Ether toward the $3,650 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher toward the $3,800 resistance zone in the coming days. 
<h2 id="more-losses-in-eth">More Losses In ETH?</h2> 
If Ethereum fails to clear the $3,500 resistance, it could start another pullback. Initial support on the downside is near $3,460. The first major support sits near the $3,440 zone and the trend line. 
A clear move below the $3,440 support might push the price toward $3,420. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,320. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 zone. 
Major Support Level – $3,440 
Major Resistance Level – $3,550

Ethereum Price Battles at $3,550: Bulls Ready for Another Try?

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