Wednesday, 15 January 2025
Trending
CryptoEthereum

Ethereum Price Is About To Make A Major Move

  • Ethereum‘s price has created a base and is beginning to rise above the $3,500 barrier.
  • At $3,726 the price formed a new weekly high and is currently consolidating gains.
  • Ethereum may begin a downward correction if it is unable to overcome the $3,725 resistance.

Like Bitcoin, Ethereum’s price has created a base and is beginning to rise above the $3,500 barrier. It has crossed above the $3,600 and $3,650 marks to enter the positive territory.

At $3,726 the price formed a new weekly high and is currently consolidating gains. It is significantly above the 23.6% Fib retracement level of the upward trend from the swing low of $3,224 to the low of $3,726.

Ethereum

On the hourly chart of ETH/USD, Ethereum is trading above $3,650 and the 100-hourly Simple Moving Average. A positive trend line connecting the two is forming, with support at $3,480.

The $3,725 level is the immediate obstacle, while the $3,750 level is the first significant opposition. The next significant resistance is at $3,800, and a test of that level might take Ether to $3,880, where positive momentum could build.

Ethereum may begin a downward correction if it is unable to overcome the $3,725 resistance. Near the $3,620 mark is where initial downside support is located. The trend line or the $3,500 zone is the first significant support.

Related posts
BlockchainCrypto

Sony Launches Soneium Blockchain to Revolutionize Web3 Experience

Soneium is an Ethereum layer-2 blockchain, focused on simplifying Web3. It includes a crypto…
Read more
AltcoinsCrypto

Bitcoin Surges Back Above $96,000 Amid Market Rally and US Inflation Data Focus

Bitcoin rebounds above $96,000, rising 6% in 24 hours alongside global stock gains. Ethereum…
Read more
CryptoCrypto Regulations

XRP Price Fluctuates Amid SEC Appeal Deadline and Market Concerns

XRP declined 3.4% to $2.44, following a recent surge to $2.60 linked to SEC developments. The SEC…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

DubaiJobs

Families of the UAE Employees are Suffering Without Enough Salary

Worth reading...