Thursday , March 28 2024
Home / Altcoins / Ethereum Price Analysis: ETH Eyes Fresh Increase Above $3,100

Ethereum Price Analysis: ETH Eyes Fresh Increase Above $3,100

Summary:
Ethereum price started a fresh increase from the ,850 zone against the US Dollar. ETH price is now trading near ,050 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near ,910 on the 4-hours chart (data feed from Coinbase). The pair could continue to rise if there is a clear move above the ,100 resistance. Ethereum price is showing positive signs above ,900 against the US Dollar. ETH/USD might rally further if there is a clear move above the ,100 level. Ethereum Price Analysis Recently, ethereum saw a downside correction from the ,280 zone against the US Dollar. ETH price traded below the ,000 support zone and the 55 simple moving average (4-hours). However, the bulls were active near the ,850 zone. A

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Wayne Jones writes US Lawmakers Urge SEC to Confront Prometheum’s Custody Plans for ETH

Chimamanda U. Martha writes US Court Rules Coinbase Must Face SEC’s Lawsuit

staff writer writes Aerodrome Propels Coinbase’s Base Layer 2 Network to Billion TVL Milestone

Bena Ilyas writes Bitcoin ETF Success in US Sparks Debate among Japan’s Crypto Exchanges

  • Ethereum price started a fresh increase from the $2,850 zone against the US Dollar.
  • ETH price is now trading near $3,050 and the 55 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $2,910 on the 4-hours chart (data feed from Coinbase).
  • The pair could continue to rise if there is a clear move above the $3,100 resistance.

Ethereum price is showing positive signs above $2,900 against the US Dollar. ETH/USD might rally further if there is a clear move above the $3,100 level.

Ethereum Price Analysis

Recently, ethereum saw a downside correction from the $3,280 zone against the US Dollar. ETH price traded below the $3,000 support zone and the 55 simple moving average (4-hours).

However, the bulls were active near the $2,850 zone. A base was formed above the $2,850 level and the price started a fresh increase. The bulls pushed the price above the 23.6% Fib retracement level of the recent decline from the $3,284 swing high to $2,836 swing low.

There was also a move above the $3,000 resistance zone. It is now trading near $3,050 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $3,060 level.

It is near the 50% Fib retracement level of the recent decline from the $3,284 swing high to $2,836 swing low. The first major resistance is now forming near the $3,100 level. A close above the $3,100 level could start another increase. The next major stop for the bulls could be near the $3,280 level.

If there is no upside break above $3,100, the price might start a downside correction. An immediate support on the downside is near the $2,980 level. The next major support is now near the $2,920 level.

Besides, there is a key bullish trend line forming with support near $2,910 on the 4-hours chart. A break below the $2,910 support could push the price to $2,850. Any more losses could lead the price towards $2,740. The next major support is near the $2,550, where the bulls might take a stand.

Ethereum Price

Ethereum Price

Looking at the chart, Ethereum price is clearly trading near the $3,050 zone and the 55 simple moving average (4-hours). Overall, ether price could continue to rise if there is a clear move above the $3,100 resistance.

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 – $2,980, followed by the $2,910 zone.

Key Resistance$ Levels – $3,060 and $3,100.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *