๐ Ethereum Price Shows Positive Signs Above $3,550 ๐น
Ethereum (ETH) is displaying optimistic signals as it maintains levels above $3,550. The key hurdle for further upside remains at the $3,680 resistance zone.
๐ Uptrend Continues: ETH initiated another upward movement, surpassing the $3,550 resistance. Currently, it's trading above $3,550 and the 100-hourly Simple Moving Average, supported by a significant bullish trend line near $3,590.
๐ Resistance and Potential Upside: Immediate resistance lies near $3,640, followed by a major hurdle at $3,680. Beyond this, targets include $3,720, $3,800, and potentially even $3,880. Breaking above $3,800 could pave the way for a test of the psychological $4,000 mark.
๐ฐ Dips Supported: Should ETH fail to clear the $3,640 resistance, it might witness a downside correction. Initial support is anticipated near $3,590 and the trend line. Further down, key support zones are at $3,550, $3,500, and $3,390, with a potential test of $3,250 in case of extended losses.