Ethereum Price Analysis: Can ETH Break Through $3,500?
Ethereum’s price has been steadily increasing, breaking above the $3,400 resistance zone. However, it’s facing a significant hurdle at the $3,500 mark.
Key Points
* **Ethereum is currently consolidating gains after reaching a high of $3,515.**
* **Support levels are located at $3,350, $3,320, and $3,250.**
* **Resistance levels are at $3,500, $3,550, $3,650, and $3,740.**
* **The hourly MACD is losing momentum, while the hourly RSI is above 50.**
Ethereum’s Potential Moves
If Ethereum can clear the $3,500 resistance, it could see further gains towards $3,650 and potentially even $3,800. However, if it fails to break through, it might experience a pullback towards the support levels.
Technical Indicators
The MACD is losing momentum, suggesting that the bullish trend could be slowing down. However, the RSI is still above 50, indicating that the price is still in a bullish territory.
Overall, Ethereum’s price is currently facing a key hurdle at $3,500. Whether it can break through and continue its upward trajectory remains to be seen.
