Ethereum continued its uptrend to reach above $ 3,600; But now it is in control of the current position and if it dominates $ 3,575, it is possible to climb again.
ETH opened the way above the $ 3,500 resistance following its uptrend. It then crossed the $ 3,550 level and moved away from the 100-hour moving average.
The ETH / USD pair's hourly chart also shows a break above the downtrend line with resistance at around $ 3,475. Eventually, the price even jumped to the top of the $ 3,600 position, and then the touch of the $ 3,628 price ceiling has been corrected.
ETH dropped below $ 3,600 during this price correction; Meanwhile, the 23.6% Fibonacci retracement level of the recent uptrend was lost from the $ 3,343 floor to the $ 3,628 ceiling.
ETH is currently trying to maintain its current position at around $ 3,500. In this position, the nearest resistance level is upstream around $ 3,550. Consider the first significant resistance around $ 3,575; Where the newly formed downtrend line has created resistance.
The next significant resistance is in the same range of $ 3,600, the passage of which is the main condition for climbing higher levels. If it does, there is a possibility of a single ETH jump of up to $ 3,700. The $ 3,800 range then plays a key resistance role.
If ETH is unable to climb above the $ 3,575 resistance, a sharp price correction is likely. In this case, the nearest support level is around $ 3,500.
The $ 3,480 level plays a key support role; The Fibonacci level of 50% has also confirmed its validity by approaching this range. If it collapses, there is a possibility that the ETH will fall to the moving average.
ETH opened the way above the $ 3,500 resistance following its uptrend. It then crossed the $ 3,550 level and moved away from the 100-hour moving average.
The ETH / USD pair's hourly chart also shows a break above the downtrend line with resistance at around $ 3,475. Eventually, the price even jumped to the top of the $ 3,600 position, and then the touch of the $ 3,628 price ceiling has been corrected.
ETH dropped below $ 3,600 during this price correction; Meanwhile, the 23.6% Fibonacci retracement level of the recent uptrend was lost from the $ 3,343 floor to the $ 3,628 ceiling.
ETH is currently trying to maintain its current position at around $ 3,500. In this position, the nearest resistance level is upstream around $ 3,550. Consider the first significant resistance around $ 3,575; Where the newly formed downtrend line has created resistance.
The next significant resistance is in the same range of $ 3,600, the passage of which is the main condition for climbing higher levels. If it does, there is a possibility of a single ETH jump of up to $ 3,700. The $ 3,800 range then plays a key resistance role.
If ETH is unable to climb above the $ 3,575 resistance, a sharp price correction is likely. In this case, the nearest support level is around $ 3,500.
The $ 3,480 level plays a key support role; The Fibonacci level of 50% has also confirmed its validity by approaching this range. If it collapses, there is a possibility that the ETH will fall to the moving average.
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