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Home»EXCHANGE NEWS»Ethereum Price For Another Rise To $4,000: The Rise Is Not Over Yet
EXCHANGE NEWS

Ethereum Price For Another Rise To $4,000: The Rise Is Not Over Yet

By Crypto FlexsMarch 29, 20243 Mins Read
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Ethereum Price For Another Rise To ,000: The Rise Is Not Over Yet
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Ethereum price maintains an upward trend above the $3,500 area. ETH could gain bullish momentum if it breaks out of the $3,680 resistance area in the near term.

  • Ethereum has retested $3,450 and is currently climbing higher.
  • The price is trading above $3,500 and the 100-hour simple moving average.
  • On the ETH/USD hourly chart (data feed via Kraken), a breakout occurred above the main bearish trendline with resistance at $3,540.
  • If it settles above the $3,680 resistance zone, it could gain bullish momentum.

Ethereum Price Eyes Fresh Increase

Ethereum price began another downward correction below the $3,550 area. ETH retested the $3,450 area before a Bitcoin-like bullish move. Lows were made near $3,459 and the price has recently risen further.

There was a move above the $3,520 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $3,680 swing high to the $3,459 low. Additionally, on the hourly chart of ETH/USD, a breakout occurred above the main bearish trend line with resistance at $3,540.

Ethereum is currently trading above $3,520 and the 100-hour simple moving average. On the other hand, immediate resistance is close to the $3,600 level. The first major resistance is near the $3,630 level. This is close to the 76.4% Fib retracement level of the downward move from the $3,680 swing high to the $3,459 low.

Source: ETHUSD on TradingView.com

The next major resistance level is $3,680, above which the price could gain upward momentum. If specified, Ethereum could rise to the $3,800 level. Any move above the $3,880 resistance level could push Ethereum towards the $3,920 resistance level. You may need to test $4,000 to get more profits.

Another decline in ETH?

If Ethereum fails to clear the $3,630 resistance, it could begin another downtrend. Initial support for the downside is near the $3,540 level.

The first major support is near the $3,480 area. The next major support could be the $3,450 zone. A clear move below the $3,450 support could lead the price towards $3,325. Any more losses could push the price down to the $3,250 level.

technical indicators

Hourly MACD – ETH/USD MACD is losing momentum in the bullish zone.

RSI per hour – The RSI for ETH/USD is now above the 50 level.

Key Support Level – $3,450

Key Resistance Level – $3,680

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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