Ethereum / TetherUSUpdated Ethereum Price Analysis: Steady Momentum in Uptrend
Ethereum (ETH) is currently trading around $3,420, maintaining its position within a defined ascending channel. The price is showing resilience as it consolidates after testing a resistance zone near $3,440, a level it has yet to decisively break.
The upward trend remains intact, supported by strong moving averages. Immediate support lies around $3,340, with a more critical zone near $3,200, which could act as a safety net for buyers. A breakout above the $3,440 resistance could pave the way for further gains, potentially targeting the $3,700 level in the short term.
Investors should watch for buying opportunities on dips, as the overall sentiment suggests bullish momentum. However, a failure to maintain the channel's lower boundary could shift focus toward lower support levels. Stay tuned for potential market-moving news to influence ETH's trajectory.
The upward trend remains intact, supported by strong moving averages. Immediate support lies around $3,340, with a more critical zone near $3,200, which could act as a safety net for buyers. A breakout above the $3,440 resistance could pave the way for further gains, potentially targeting the $3,700 level in the short term.
Investors should watch for buying opportunities on dips, as the overall sentiment suggests bullish momentum. However, a failure to maintain the channel's lower boundary could shift focus toward lower support levels. Stay tuned for potential market-moving news to influence ETH's trajectory.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.