Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-price-surge-and-critical-resistance-levels/" data-wpel-link="internal">Ethereum’s Price Surge and Critical Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/ethereumun-en-buyuk-sorununa-cozum-arayislari" data-wpel-link="internal">Ethereum</a></strong> continues its recovery trend, rising above the $3,120 resistance zone. <a href="https://coin-turk.com/bitcoin-bildiginiz-her-seyi-unutun-o-seviye-geliyor-unlu-makro-ekonomistten-kanit-ustune-kanit" data-wpel-link="internal">The cryptocurrency</a> market’s leading name, <a href="https://en.coin-turk.com/which-is-the-best-altcoin/" data-wpel-link="internal">Ethereum</a>, is moving towards a decisive level in the near term. So, which levels should be monitored for Ethereum?</p> 
<h2 style="text-align: justify" id="ethereum-s-price-recovery">Ethereum’s Price Recovery</h2> 
<p style="text-align: justify">According to recent data, if Ethereum’s price exceeds the $3,280 resistance zone, it could start a new rally. However, there is some uncertainty about surpassing this level, and investors are eagerly waiting to see what kind of movement could occur if this critical level is breached.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342902 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-coin-turk-com-1-4.png" alt="" width="1820" height="792"></p> 
<p style="text-align: justify">This strengthening in Ethereum’s price came especially after forming a base above the $2,850 level and alongside the recovery wave seen in other <strong>cryptocurrencies</strong> like <a href="https://en.coin-turk.com/bitcoin-price-movement-and-expert-analysis/" data-wpel-link="internal">Bitcoin</a>. However, overcoming the significant barriers around $3,000 is considered a critical step for entering a positive zone.</p> 
<h2 style="text-align: justify" id="critical-resistances-for-eth">Critical Resistances for ETH</h2> 
<p style="text-align: justify">According to technical analysis, on the hourly chart of the <a href="https://en.coin-turk.com/rominent-crypto-analyst-kevin-svenson-foresees-an-altcoin-rally-spotlights-gala/" data-wpel-link="internal">ETH</a>/USD pair, breaking two connected downtrend lines above the $3,070 and $3,150 resistance levels is considered a significant development.</p> 
<p style="text-align: justify">Currently, <strong>Ethereum</strong> is trading above $3,190 and above the 100-hour Simple Moving Average. The immediate resistance level is around $3,200. The first major resistance is near $3,250, while the next key resistance level is set at $3,280. If the price surpasses these levels, an upward momentum towards $3,350 is expected.</p> 
<p style="text-align: justify">A close above the $3,350 resistance could indicate that Ethereum might move towards the $3,420 level. If the $3,420 resistance level is breached, Ethereum could accelerate its climb towards the $3,550 resistance. For investors seeking further gains, ETH could potentially move towards the $3,880 resistance zone in the coming days.</p> 
<h2 style="text-align: justify" id="eth-could-enter-a-downtrend-if-key-resistances-aren-t-breached">ETH Could Enter a Downtrend if Key Resistances Aren’t Breached</h2> 
<p style="text-align: justify">Ethereum (ETH), if it fails to surpass the critical $3,250 resistance soon, could enter a new downtrend. Currently, the first noticeable support on the downside is around $3,150. However, the $3,120 level and the 100-hour Simple Moving Average (SMA) could play a significant role in this downward trend.</p> 
<p style="text-align: justify">If the price dips below the $3,120 support, selling pressure could increase, pushing <strong>ETH</strong> towards $3,020. If a deeper decline occurs, the price could potentially retreat to as low as $2,965 in the near term.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereums-price-surge-and-critical-resistance-levels/" data-wpel-link="internal">Ethereum’s Price Surge and Critical Resistance Levels</a></h5>

Ethereum’s Price Surge and Critical Resistance Levels

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