The post Is a Move Higher Coming? appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Ethereum price extended its increase above the $3,650 zone. ETH is consolidating and aims for a fresh increase above the $3,750 resistance. Ethereum started a decent recovery wave above the $3,700 zone. The price is trading above $3,650 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,750 resistance level. Ethereum Price Climbs Above $3,700 Ethereum price remained stable above the $3,550 level and extended its upward move like Bitcoin. ETH gained pace for a move above the $3,620 and $3,650 resistance levels. The bulls were able to surpass the $3,700 resistance level. It opened the doors for a move toward the $3,750 level. A high was formed at $3,742 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $3,593 swing low to the $3,742 high. Ethereum price is now trading above $3,660 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,660 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $3,593 swing low to the $3,742 high. On the upside, the price seems to be facing hurdles near the $3,710 level. The first major resistance is near the $3,750 level. The main resistance is now forming near $3,780. A clear move above the $3,780 resistance might send the price toward the $3,850 resistance. Source: ETHUSD on TradingView.com An upside break above the $3,850 resistance might call for more gains in the coming sessions. In…

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Filed under: News - @ January 7, 2025 3:22 am