ETHEREUM TECHNICAL ANALYSIS✅
Updated
#ETH surpassed the $3,400 resistance level by being in a bull movement. Favorable conditions are now provided for the $3,500 level to be exceeded.
Ethereum formed a strong support base at around $3,200 and started a new uptrend. It managed to continue the resistance of $3,350 and the 100-hour moving average.
The ETH/USD pair also broke the key resistance of the downtrend line in the range of $3,360. It then paved the way for the $3,400 resistance. #Ethereum continued to move above the $3,420 level and even tested the $3,450 level.
After conquering the $3,450 peak, ETH is seen trying to stabilize its current position. So far, Fibonacci support at 23.6% has not lost the recent return of the $3,115 to $3,450 level.
Fibonacci has not missed the recent climb from $3,115 to $3,450.
The nearest resistance level upstream is around $3,420. Strong resistance has since been seen in the $3,450 range. By climbing to the top, the price will be raised to higher levels. The next significant resistance is at $3,500. Any further growth in this atmosphere would be conducive to further ETH ascent. But if #ETH is unable to climb above the $3,450 resistance level, a bearish correction will be imminent. In this case, the closest downstream support is in the $3,380 range.
The next strong support seems to be forming in the $3,350 range. A further drop is likely to signal a 50% Fibonacci level. The next hurdle for bears is likely to be in the $3,240 range.
Ethereum formed a strong support base at around $3,200 and started a new uptrend. It managed to continue the resistance of $3,350 and the 100-hour moving average.
The ETH/USD pair also broke the key resistance of the downtrend line in the range of $3,360. It then paved the way for the $3,400 resistance. #Ethereum continued to move above the $3,420 level and even tested the $3,450 level.
After conquering the $3,450 peak, ETH is seen trying to stabilize its current position. So far, Fibonacci support at 23.6% has not lost the recent return of the $3,115 to $3,450 level.
Fibonacci has not missed the recent climb from $3,115 to $3,450.
The nearest resistance level upstream is around $3,420. Strong resistance has since been seen in the $3,450 range. By climbing to the top, the price will be raised to higher levels. The next significant resistance is at $3,500. Any further growth in this atmosphere would be conducive to further ETH ascent. But if #ETH is unable to climb above the $3,450 resistance level, a bearish correction will be imminent. In this case, the closest downstream support is in the $3,380 range.
The next strong support seems to be forming in the $3,350 range. A further drop is likely to signal a 50% Fibonacci level. The next hurdle for bears is likely to be in the $3,240 range.
Note
Note
Update:
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