Ethereum Price Rockets to $3,500
The price of Ethereum has skyrocketed to $3,500, marking a significant milestone for the popular cryptocurrency. Ethereum has been showing strength in the market, with the price trading above $3,350 and the 100-hourly Simple Moving Average.
A key bullish trend line has formed with support at $3,320 on the hourly chart of ETH/USD, indicating a positive trend for Ethereum. The price has already tested the $3,500 resistance level and aims to continue its upward trajectory in the near term.
Ethereum’s price surge of 10% has caught the attention of investors and traders, with the bulls in action driving the price higher. The next major resistance levels for Ethereum are at $3,550 and $3,650, with a potential breakout above $3,550 leading to further gains.
However, if Ethereum fails to clear the $3,500 resistance, a downside correction could occur. Initial support levels are at $3,400 and $3,320, with further support at $3,270 and $3,220 in case of a bearish trend.
Overall, Ethereum’s price surge to $3,500 has generated excitement in the cryptocurrency market, with investors closely monitoring its performance in the coming days. Technical indicators suggest a bullish momentum for Ethereum, with the potential for further gains in the near future.
