Ethereum Price Prepares for Upside Move—Is the Rally About to Return?
Analysis
Price Impact
HighEthereum is at a critical juncture, with potential for a significant upside move above $3,350 leading to $3,400-$3,500, or a fresh decline below $3,150 pushing it towards $3,000. both scenarios suggest notable price volatility.
Trustworthiness
HighThe source explicitly states a strict editorial policy focusing on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed.
Price Direction
BullishDespite a recent correction, eth holds above $3,200 and the 100-hourly sma. a bullish trend line offers support at $3,180, and both the hourly macd and rsi are gaining momentum in the bullish zone (macd above zero, rsi above 50). a clear break above $3,350 is anticipated to fuel a rally.
Time Effect
ShortThe analysis focuses on hourly charts and refers to potential moves 'in the coming days' and 'in the near term', indicating a short-term price outlook.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price started a fresh increase above $3,15 0. ETH is now consolidating and might soon aim for a clear upside break above $3,350. Ethereum started a downside correction from the $3,450 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a new connecting bullish trend line forming with support at $3,180 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $3,150 zone. Ethereum Price Holds Support Ethereum price managed to stay above $3,150 and started a fresh increase, beating Bitcoin . ETH price gained strength for a move above the $3,300 and $3,320 resistance levels. The bulls even pushed the price above $3,400. However, the bears were active below $3,450. A high was formed at $3,448 and the price is now correcting gains. There was a move below $3,250, and the price even spiked below the 50% Fib retracement level of the upward wave from the $2,914 swing low to the $3,448 low. However, the bulls were active near $3,150. Ethereum price is now trading above $3,200 and the 100-hourly Simple Moving Average . Besides, there is a new connecting bullish trend line forming with support at $3,180 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com If there is another upward move, the price could face resistance near the $3,290 level. The next key resistance is near the $3,320 level. The first major resistance is near the $3,350 level. A clear move above the $3,350 resistance might send the price toward the $3,400 resistance. An upside break above the $3,400 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,450 resistance zone or even $3,500 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,320 resistance, it could start a fresh decline. Initial support on the downside is near the $3,200 level. The first major support sits near the $3,150 zone. A clear move below the $3,150 support might push the price toward the $3,040 support. Any more losses might send the price toward the $3,020 region. The next key support sits at $3,000. 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 – $3,180 Major Resistance Level – $3,350