What’s Next for the Altcoin Giant?

Ethereum worth remained secure above the $3,400 resistance zone. ETH once more examined $3,500 and appears to be struggling to proceed larger.

• Ethereum is holding good points and struggling close to the $3,500 zone.
• The value is buying and selling above $3,400 and the 100-hourly Easy Shifting Common.
• There’s a key bullish development line forming with help at $3,350 on the hourly chart of ETH/USD (knowledge feed through Kraken).
• The pair may proceed to rise if it clears the $3,500 and $3,550 resistance ranges.

Ethereum Value Faces Key Hurdle, Can It Proceed Greater?

Ethereum worth remained in a bullish zone above the $3,350 resistance zone. ETH even climbed above the $3,400 resistance to maneuver additional right into a optimistic zone. Nonetheless, the worth appears to be going through sturdy resistance close to the $3,500 zone, in contrast to Bitcoin which surpassed $65,000.

A excessive was shaped at $3,515 and the worth is now consolidating good points. The value corrected a couple of factors and examined the 23.6% Fib retracement stage of the upward wave from the $3,350 swing low to the $3,515 excessive.

Ethereum is now buying and selling above $3,400 and the 100-hourly Easy Shifting Common. There’s additionally a key bullish development line forming with help at $3,350 on the hourly chart of ETH/USD. On the upside, the worth is going through resistance close to the $3,500 stage.

The primary main resistance is close to the $3,520 stage. The subsequent main hurdle is close to the $3,550 stage. A detailed above the $3,550 stage may ship Ether towards the $3,650 resistance.

The subsequent key resistance is close to $3,740. An upside break above the $3,740 resistance may ship the worth larger towards the $3,800 resistance zone within the coming days.

Are Dips Supported In ETH?

If Ethereum fails to clear the $3,500 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to $3,420 and the 61.8%  Fib retracement stage of the upward wave from the $3,350 swing low to the $3,515 excessive.

The primary main help sits close to the $3,350 zone and the development line. A transparent transfer beneath the $3,350 help may push the worth towards $3,320. Any extra losses may ship the worth towards the $3,250 help stage within the close to time period. The subsequent key help sits at $3,220.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is dropping momentum within the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Main Assist Degree – $3,350

Main Resistance Degree – $3,500