- Ethereum price is moving higher above the $3,000 resistance against the US Dollar.
- ETH price is now trading above $3,120 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $3,000 on the 4-hour chart (data feed from Coinbase).
- The pair could climb further if it stays above the $3,000 support zone.
Ethereum price is rising above the $3,120 level against the US Dollar. ETH/USD could rise further if it clears the $3,250 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase above the $3,000 level against the US Dollar. ETH price was able to gain pace for a move above the $3,120 level and the 55 simple moving average (4 hours).
The bulls even pushed the price above the $3,200 resistance zone. A high is formed near $3,277 and the price is now consolidating gains. It is trading above the $3,200 level. It is also above the 23.6% Fib retracement level of the upward wave from the $2,868 swing low to the $3,277 high.
Ether price is showing positive signs above $3,120 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $3,000 on the 4-hour chart.
Immediate resistance on the upside is near the $3,250 level. The next major resistance is near the $3,320 zone. A clear move above the $3,320 level could send the price toward $3,450. Any more gains could even send the price toward the $3,500 resistance zone or $3,550 in the near term.
On the downside, initial support is near the $3,180 level. The next major support is now near the $3,070 level or 50% Fib retracement level of the upward wave from the $2,868 swing low to the $3,277 high, below which the price might test $3,000. A break below the $3,000 support could push the price to $2,880. Any more losses could lead the price towards $2,740.
Looking at the chart, Ethereum’s price is trading above the $3,120 zone and the 55 simple moving average (4 hours). Overall, Ether’s price could climb further if it stays above the $3,000 support zone.
Technical indicators
4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for ETH/USD is now above the 50 level.
Key Support Levels – $3,180, followed by the $3,000 zone.
Key Resistance$ Levels – $3,250 and $3,320.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/ethereum-price-analysis-eth-bulls-aim-for-3500/
- :is
- $3
- 000
- 070
- 120
- 180
- 200
- 23
- 250
- 320
- 50
- 500
- a
- Able
- above
- against
- aim
- also
- analysis
- and
- any
- At
- average
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- Bulls
- by
- Chart
- clear
- climb
- coinbase
- consolidating
- could
- data
- Dollar
- downside
- ETH
- eth bulls
- eth price
- ETH/USD
- ethereum
- Ethereum Price
- Ethereum Price Analysis
- Ethereum's
- Even
- few
- followed
- For
- formed
- from
- further
- Gain
- gaining
- Gains
- High
- higher
- HOURS
- HTTPS
- if
- in
- index
- initial
- IT
- Key
- lead
- Level
- levels
- Line
- live
- Live Bitcoin News
- losses
- Low
- MACD
- major
- max-width
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- positive
- price
- Price Analysis
- Push
- pushed
- relative
- relative strength index
- Resistance
- retracement
- Rise
- rising
- rsi
- saw
- send
- sessions
- showing
- Signs
- Simple
- strength
- support
- support levels
- Swing
- term
- test
- The
- There.
- to
- toward
- towards
- Trading
- TradingView
- Trend
- Upside
- upward
- us
- US Dollar
- was
- Wave
- which
- with
- zephyrnet
- zone