{"id":472990,"date":"2021-10-04T05:08:19","date_gmt":"2021-10-04T05:08:19","guid":{"rendered":"https:\/\/wncen.com\/?p=472990"},"modified":"2024-06-11T13:59:10","modified_gmt":"2024-06-11T13:59:10","slug":"ethereum-bulls-in-control-3500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bulls-in-control-3500\/","title":{"rendered":"TA: Ethereum Bulls In Control, Why ETH Could Rally Above $3,500"},"content":{"rendered":"
Ethereum gained strength above $3,200 and $3,350 against the US Dollar. ETH price could start a fresh rally if it clears $3,450 and $3,500.<\/em><\/p>\n Ethereum formed a base above the $3,000 level and started a fresh increase. ETH broke the $3,150 and $3,200 resistance levels to move into a positive zone.<\/p>\n There was also a close above the $3,300 level and the 100 hourly simple moving average. The price traded as high as $3,489 and recently corrected lower, similar to bitcoin<\/a>. Ether declined below the $3,400 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $2,970 swing low to $3,489 high.<\/p>\n There was a break below a key bullish trend line with support near $3,400 on the hourly chart of ETH\/USD. It is now trading above the $3,320 support level.<\/p>\n <\/a><\/p>\n An immediate resistance on the upside is near the $3,400 level. The first major resistance is near the $3,420 level. A break above the $3,420 level could start a steady increase. The next main resistance is near the $3,500 zone, above which the price might accelerate higher.<\/p>\n If ethereum fails to continue higher above the $3,420 and $3,500 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,300 level.<\/p>\n\n
Ethereum Price Stuck Below Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n