{"id":473137,"date":"2021-10-06T05:08:59","date_gmt":"2021-10-06T05:08:59","guid":{"rendered":"https:\/\/wncen.com\/?p=473137"},"modified":"2024-06-11T13:59:15","modified_gmt":"2024-06-11T13:59:15","slug":"ethereum-just-reversed-3500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-just-reversed-3500\/","title":{"rendered":"TA: Ethereum Just Reversed and $3,700 is Imminent, Here’s Why"},"content":{"rendered":"
Ethereum gained pace and surpassed the $3,500 level against the US Dollar. ETH price is trading in a positive zone and it could rise further towards $3,700.<\/em><\/p>\n Ethereum started a steady increase<\/a> above the $3,350 resistance zone. ETH was able to climb above the $3,450 level and the 100 hourly simple moving average.<\/p>\n The price even cleared the $3,500 zone. A high is formed near $3,539 and it is now correcting gains. Ether corrected lower below the $3,500 level. It is now trading near the 23.6% Fib retracement level of the recent increase from the $3,275 swing low to $3,339 high.<\/p>\n It is now consolidating near the $3,480 zone. There is also a key bullish trend line forming with support near $3,450 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $3,500 level. The first major resistance is near the $3,540 level.<\/p>\n <\/a><\/p>\n The next major resistance is near the $3,550 level, above which the price might accelerate towards $3,700. Any more gains could set the pace for a larger increase towards the $3,800 level in the near term.<\/p>\n If ethereum fails to continue higher above the $3,540 and $3,550 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,450 level.<\/p>\n\n
Ethereum Price Extends Rally<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n