Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/analysis/eth/ethereum-price-rise-3650/amp/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

Ethereum Price on the Rise: Can Momentum Fuel Bigger Gains?

Ethereum Price on the Rise: Can Momentum Fuel Bigger Gains?

Ethereum Price Grinds Lower

Ethereum Price Grinds Lower

Ethereum price started a fresh recovery wave above the $3,550 zone. ETH is consolidating and aims for a fresh increase above the $3,700 resistance.

Ethereum Price Climbs Above $3,650

Ethereum price remained stable above the $3,420 level and extended its recovery wave like Bitcoin. ETH gained pace for a move above the $3,550 and $3,620 resistance levels.

The bulls were able to surpass the $3,650 resistance level. It opened the doors for a move toward the $3,700 level. A high was formed at $3,694 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.

Ethereum price is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,620 on the hourly chart of ETH/USD. The trend line is close to the 76.4% Fib retracement level of the upward move from the $3,569 swing low to the $3,694 high.

On the upside, the price seems to be facing hurdles near the $3,700 level. The first major resistance is near the $3,720 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance.

Source: ETHUSD on TradingView.com

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 $3,920 resistance zone or even $4,000 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,620 level and the trend line. The first major support sits near the $3,550.

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 MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

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

Major Support Level – $3,620

Major Resistance Level – $3,700

Exit mobile version