Ethereum’s price is currently holding above the $3,500 mark, and there is potential for it to gain further momentum if it surpasses the $3,680 resistance level in the near future. The recent correction saw Ethereum retest the $3,450 zone before witnessing a rebound. The price has since climbed above the $3,520 resistance level and the 100-hourly Simple Moving Average. Additionally, a key bearish trend line was broken with resistance at $3,540.
In terms of resistance, the immediate levels to watch are $3,600 and $3,630, followed by $3,680. If Ethereum successfully breaks through these levels, it may experience a bullish surge towards $3,800 and potentially even reach the $3,920 and $4,000 marks.
However, if Ethereum fails to surpass the $3,630 resistance, it could see another decline. The initial support is expected around the $3,540 level, followed by the $3,480 zone. Further down, the $3,450 support level and potentially even the $3,325 and $3,250 levels could be tested.
It is important to note that this information is provided for educational purposes only and should not be considered as financial advice. Conduct your own research and exercise caution when making investment decisions.