Ethereum Price Holds Steady, $4K Remains The Goal
Ethereum price is recovering higher from the $3,500 zone. ETH is showing bullish signs and might soon aim for a move above the $3,700 resistance zone.
- Ethereum remained in a positive zone and stayed above the $3,500 zone.
- The price is trading above $3,620 and the 100-hourly Simple Moving Average.
- There was a break above a connecting bearish trend line with resistance at $3,600 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could restart its increase if it clears the $3,700 zone.
Ethereum Price Makes Fresh Increase
Ethereum price failed to clear the $3,680 resistance zone and corrected some gains like Bitcoin . ETH declined below the $3,600 and $3,550 support levels. It even retested the $3,500 support level.
A low was formed at $3,505 and the price is now attempting a fresh increase. There was a move above the $3,600 and $3,620 levels. The price cleared the 50% Fib retracement level of the downward move from the $3,760 swing high to the $3,505 low.
Besides, there was a break above a connecting bearish trend line with resistance at $3,600 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average .
On the upside, the price seems to be facing hurdles near the $3,680 level. The first major resistance is near the $3,700 level or the 76.4% Fib retracement level of the downward move from the $3,760 swing high to the $3,505 low. The main resistance is now forming near $3,750.
A clear move above the $3,750 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120.
Another Drop In ETH?
If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,550 zone.
A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,600
Major Resistance Level – $3,700
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NVIDIA ignites a new Wall Street expectation: $1 trillion revenue sprint for FY2028?
Nvidia's latest financial report has once again shocked the market, with management forecasting a revenue increase of over 70% for fiscal year 2028, far exceeding Wall Street's consensus estimate of 45%. Institutions such as JPMorgan, Goldman Sachs, and Bernstein are unanimously bullish, and some analysts boldly predict that reaching $1 trillion in revenue for fiscal year 2029 is "not impossible." With mass production of the next-generation chip platform Vera Rubin imminent, accelerating demand combined with supply constraints suggests that the current guidance may be a conservative figure.
Tron Inc. adds 147,969 TRX to treasury as TRX targets resistance at $0.3442
"Federal Reserve Communications News Agency": History Repeats Itself—In the Face of War, Bagehot Tests the "Boundaries Between the Federal Reserve and the Treasury"
Nick Timiraos from "Fed Communications Agency" believes that Bessent’s announcement to at least double the repurchase of long-term Treasury bonds aims to lower long-term yields, which have reached 19-year highs; this move comes at a time when the Federal Reserve may need to tighten financial conditions. If the intervention succeeds, it will prompt more FOMC officials to favor a rate hike. Coupled with Bessent's previous interventions in the Japanese yen, personnel and monetary policy at the Atlanta Fed, the historical boundaries between the Treasury Department and the Federal Reserve are being tested from multiple directions.
Suspicions arise over "AI Central Bank" or "Balance Sheet as a Service"? Nvidia halts "Revenue Sharing for Financing" model
Nvidia's "AI Computing Power Partnership Program" was halted less than two months after its launch, with antitrust concerns being one of the triggers. Meanwhile, Nvidia disclosed for the first time its massive off-balance-sheet commitments totaling $530.5 billion. Morgan Stanley warned that the "circular financing" model is introducing significant and opaque tail risks. CDS quotes soared to 83 basis points, doubling the historical average — Wall Street is voting with prices: Is Nvidia's balance sheet a moat or a liability?
Crypto prices
More
