{"id":596271,"date":"2024-03-05T04:10:55","date_gmt":"2024-03-05T04:10:55","guid":{"rendered":"https:\/\/wncen.com\/?p=596271"},"modified":"2024-06-11T08:17:03","modified_gmt":"2024-06-11T08:17:03","slug":"ethereum-price-follows-bitcoin-4k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-follows-bitcoin-4k\/","title":{"rendered":"Ethereum Price Follows Bitcoin Surge, Why $4K Is Just A Matter of Time"},"content":{"rendered":"<p><em>Ethereum price is pumping above the $3,550 resistance. ETH is following Bitcoin and might soon rally toward the $4,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum is gaining pace above the $3,550 resistance zone.<\/li>\n<li>The price is trading above $3,650 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair seems to be setting up for a move toward the $3,850 and $4,000 levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Fresh Surge<\/h2>\n<p>Ethereum price extended its rally above the $3,500 level, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-ath-70k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. BTC surged and even spiked above the $68,000 level. ETH is showing signs of strength and surging above the $3,650 level.<\/p>\n<p>There was a clear move above the $3,700 level. A new multi-month high is formed at $3,715 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-surge-3800\/\" target=\"_blank\" rel=\"noopener \">upward move<\/a> from the $3,465 swing low to the $3,715 high.<\/p>\n<p>Ethereum is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $3,465 swing low to the $3,715 high.<\/p>\n<p>Immediate resistance on the upside is near the $3,720 level. The first major resistance is near the $3,780 level. The next major resistance is near $3,850, above which the price might gain bullish momentum. \u00a0The next stop for the bulls could be near the $3,920 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-596272\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_c08084.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>If there is a move above the $3,920 resistance, Ether could even rally toward the $4,000 resistance. Any more gains might call for a test of $4,200.<\/p>\n<h2>Downside Correction In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,720 resistance, it could start a downside correction. Initial support on the downside is near the $3,650 level.<\/p>\n<p>The first major support is near the $3,600 zone and the trend line. The next key support could be the $3,550 zone. A clear move below the $3,550 support might send the price toward $3,420. Any more losses might send the price toward the $3,350 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $3,600<\/p>\n<p>Major Resistance Level \u2013 $3,720<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is pumping above the $3,550 resistance. ETH is following Bitcoin and might soon rally toward the $4,000 resistance zone. Ethereum is gaining pace above the $3,550 resistance zone. The price is trading above $3,650 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair seems to be setting up for a move toward the $3,850 and $4,000 levels. Ethereum Price Starts Fresh Surge Ethereum price extended its rally above the $3,500 level, like Bitcoin. BTC surged and even spiked above the $68,000 level. ETH is showing signs of strength and surging above the $3,650 level. There was a clear move above the $3,700 level. A new multi-month high is formed at $3,715 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $3,465 swing low to the $3,715 high. Ethereum is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $3,465 swing low to the $3,715 high. Immediate resistance on the upside is near the $3,720 level. The first major resistance is near the $3,780 level. The next major resistance is near $3,850, above which the price might gain bullish momentum. \u00a0The next stop for the bulls could be near the $3,920 level. Source: ETHUSD on TradingView.com If there is a move above the $3,920 resistance, Ether could even rally toward the $4,000 resistance. Any more gains might call for a test of $4,200. Downside Correction In ETH? If Ethereum fails to clear the $3,720 resistance, it could start a downside correction. Initial support on the downside is near the $3,650 level. The first major support is near the $3,600 zone and the trend line. The next key support could be the $3,550 zone. A clear move below the $3,550 support might send the price toward $3,420. Any more losses might send the price toward the $3,350 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $3,600 Major Resistance Level \u2013 $3,720<\/p>\n","protected":false},"author":67,"featured_media":504923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-596271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Follows Bitcoin Surge, Why $4K Is Just A Matter of Time<\/title>\n<meta name=\"description\" content=\"Ethereum price is pumping above the $3,550 resistance. 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Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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