![Ethereum Price Hints at Upside: Analyzing The Bullish Signals](/image/667e2f690d32e.jpg)
Ethereum price is attempting a fresh increase above the $3,420 resistance zone. ETH is now struggling to clear the $3,480 and $3,520 resistance levels. Ethereum slowly moved higher above the $3,420 zone. The price is trading above $3,400 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $3,390 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,480 and $3,520 resistance levels to continue higher. Ethereum Price Recovers Slightly Ethereum price started a decent recovery wave above the $3,350 level. ETH even cleared the $3,400 level and outperformed Bitcoin. There was a break above a connecting bearish trend line with resistance near $3,390 on the hourly chart of ETH/USD. The pair even cleared the $3,450 resistance zone. A high was formed at $3,482 and the price is now consolidating gains. There was a move below the $3,450 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,328 swing low to the $3,482 high. The bulls are now trying to protect more downsides below the $3,420 level. Ethereum is trading above $3,400 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $3,480 level. The first major resistance is near the $3,500 level. The next major hurdle is near the $3,520 level. A close above the $3,520 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher. Any more gains could send Ether toward the $3,740 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $3,480 resistance, it could start another decline. Initial support on the downside is near $3,420. The first major support sits near the $3,400 zone and the 50% Fib retracement level of the upward move from the $3,328 swing low to the $3,482 high. A clear move below the $3,400 support might push the price toward $3,320. Any more losses might send the price toward the $3,240 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,400 Major Resistance Level – $3,480
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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Integrating artificial intelligence into crypto trading platforms has transformed the investment landscape. With RCO Finance (RCOF), investors gain an edge over the volatile crypto market. By utilizing a robo-advisor, RCO Finance enables users to execute trades based on AI-driven market predictions, enhancing their likelihood of success. Let’s explore the features of this AI technology and NewsBTC
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Bitcoin’s (BTC) market sentiment recently turned to “fear,” the lowest it has been in 18 months! This critical market positioning has raised the alarm in the broader crypto space as The post Bitcoin (BTC) Hits Rock Bottom in Key Metrics, RCO Finance, and Kaspa Are Clear For Another 582% Rally appeared first on Live Bitcoin News . NewsBTC