- Ethereum price is eyeing an upside break above the $3,220 resistance against the US Dollar.
- ETH price is now trading above $3,100 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance near $3,150 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 consolidating above the $3,100 level against the US Dollar. ETH/USD could rise again if it clears the $3,220 resistance zone.
Ethereum Price Analysis
In the past few sessions, Ethereum saw a decent increase from the $2,850 zone against the US Dollar. ETH price moved above the $3,000 and $3,020 levels to move into a positive zone.
There was a break above a key bearish trend line with resistance near $3,150 on the 4-hour chart. The price even cleared the 23.6% Fib retracement level of the downward move from the $3,729 swing high to the $2,850 low. The price settled above the $3,150 level.
Ethereum is now trading above $3,150 and the 55 simple moving average (4 hours). On the downside, initial support is near the $3,080 level.
The next major support is now near the $3,050 level. A break below the $3,050 support could push the price to $3,000. Any more losses could lead the price toward $2,920 or even $2,850 in the coming days. Immediate resistance on the upside is near the $3,220 level.
The next major resistance is near the $3,300 zone or the 50% Fib retracement level of the downward move from the $3,729 swing high to the $2,850 low.
The main resistance sits at $3,400. A clear move above the $3,400 level could send the price toward $3,500. Any more gains could even send the price toward the $3,720 resistance zone or $4,000 in the near term.
Looking at the chart, Ethereum price is clearly trading above the $3,120 zone and the 55 simple moving average (4 hours). Overall, Ether price could climb again 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 – $3,050, followed by the $3,000 zone.
Key Resistance$ Levels – $3,220 and $3,400.
- 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-could-revisit-3500/
- :is
- $3
- 000
- 100
- 120
- 150
- 220
- 23
- 300
- 400
- 50
- 500
- a
- above
- again
- against
- an
- analysis
- and
- any
- At
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- by
- Chart
- clear
- clearly
- climb
- coinbase
- coming
- consolidating
- could
- data
- Days
- Dollar
- downside
- downward
- ETH
- eth price
- ETH/USD
- Ether
- Ether Price
- ethereum
- Ethereum Price
- Ethereum Price Analysis
- Even
- eyeing
- few
- followed
- For
- from
- further
- gaining
- Gains
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- index
- initial
- into
- IT
- Key
- lead
- Level
- levels
- Line
- live
- Live Bitcoin News
- losses
- Low
- MACD
- Main
- major
- max-width
- Momentum
- more
- move
- moved
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- positive
- price
- Price Analysis
- Push
- relative
- relative strength index
- Resistance
- retracement
- Rise
- rsi
- saw
- send
- sessions
- Settled
- Simple
- sits
- stays
- strength
- support
- support levels
- Swing
- term
- The
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- was
- with
- zephyrnet
- zone