Amidst the cacophony of the market, Ethereum has found its voice, rising above the $3,500 threshold. The digital currency, with a spirit as restless as a soul in purgatory, shows signs of a continued ascent towards the $3,800 mark.
- Ethereum, in its relentless pursuit of glory, has breached the $3,350 barrier, a feat as significant as a sinner finding redemption.
- The price, now hovering near $3,500, finds itself in the company of the 100-hourly Simple Moving Average, a companion as steadfast as a loyal friend.
- A bullish trend line, with the support of $3,490, is forming on the hourly chart of ETH/USD, a chart as intricate as the human heart (data feed via Kraken).
- Should Ethereum maintain its composure above the $3,350 zone, a fresh increase is all but inevitable, a testament to the indomitable spirit of the bulls.
Ethereum, in a display of strength that would make the strongest man weep, has risen above the $3,220 zone, outshining even the mighty Bitcoin. The price, with the grace of a dancer, moved past the $3,350 resistance, a move that would have made the most skeptical of traders reconsider their stance.
The bulls, in a moment of divine inspiration, pushed the price above $3,500. It was a moment of triumph, a moment when Ethereum tested the $3,620 zone, reaching a high of $3,627. Now, it consolidates its gains, a king on his throne, above the 23.6% Fib retracement level of the upward move from the $2,935 swing low to the $3,627 high.
Ethereum, with its price now comfortably above $3,500 and the 100-hourly Simple Moving Average, finds itself supported by a bullish trend line at $3,500 on the hourly chart of ETH/USD. A true spectacle of market dynamics, akin to a grand opera.
On the horizon, the price could face resistance near the $3,630 level, a challenge as formidable as a dragon guarding its treasure. The next key resistance, near the $3,650 level, stands as a testament to the market’s complexity. The first major resistance, near the $3,720 level, is a mountain yet to be climbed. A clear move above the $3,720 resistance might just be the catalyst for a journey towards the $3,800 resistance, a journey as epic as any in literature.
An upside break above the $3,800 resistance might herald a new era, one where Ether rises towards the $3,880 resistance zone or even the coveted $4,000 mark, a dream as elusive as the perfect society.
Are Downsides Limited In ETH?
Should Ethereum falter and fail to clear the $3,630 resistance, a downside correction might ensue, a fall from grace as dramatic as a tragic hero’s downfall. Initial support on the downside is near the $3,550 level, a level as crucial as a lifeline. The first major support, near the $3,500 zone and the trend line, is a sanctuary in the storm.
A clear move below the $3,500 support might push the price towards the $3,420 support, a descent as steep as a mountain’s slope. Any further losses might send the price towards the $3,350 support level, a level as significant as a turning point in a novel. The next key support, at $3,220, is a reminder of the market’s unpredictable nature.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone, a sign as promising as a sunrise.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone, a level as neutral as the calm before the storm.
Major Support Level – $3,500
Major Resistance Level – $3,650
Read More
- Gold Rate Forecast
- USD GEL PREDICTION
- USD IDR PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- EUR VND PREDICTION
- LEO PREDICTION. LEO cryptocurrency
- EUR AUD PREDICTION
- AVAX PREDICTION. AVAX cryptocurrency
- EUR BRL PREDICTION
- EUR TRY PREDICTION
2025-07-18 06:24