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Above $3,500, Ethereum price rose again. ETH is displaying optimistic indicators and may reach to $3,800.
Ethereum rose again over $3,350.
The price is between $3,500 and the 100-hour SMA.
The hourly ETH/USD chart shows a positive trend line with support at $3,490.
If supported over $3,350, the pair may rise again.
Ethereum Price Increases Above $3,500
Ethereum price rose beyond $3,220, outperforming Bitcoin. To stay upbeat, ETH price moved over $3,350 barrier.
Bulls drove prices over $3,500. The $3,620 zone was examined last. The price set a high at $3,627 and is consolidating gains above the 23.6% Fib retracement line of the upward run from the $2,935 swing low.
Ethereum is over $3,500 and the 100-hour SMA. On the hourly ETH/USD chart, a bullish trend line with support at $3,500 is formed.
Price may find resistance at $3,630 on the upside. Around $3,650 is the next major resistance. Near $3,720 is the first substantial resistance. A clean break over $3,720 might push the price above $3,800.
Above $3,800 barrier might lead to greater advances in the following sessions. Ether may increase to $3,880 or $4,000 soon.
Are ETH downsides limited?
Ethereum may fall if it fails to break $3,630. Around $3,550 is first downside support. First big support is between $3,500 and the trend line.
A decisive break below $3,500 might bring the price near $3,420. If losses continue, the price may reach $3,350 support. Next important support is $3,220.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Support: $3,500
Major Resistance: $3,650
