#ETHBreaks3700

🚨Ethereum Price Continues to Rise—$4K in Sight as Bulls Take Control

📈The price of Ethereum has started a new increase above the $3,500 zone, showing signs of bullish momentum and may continue to rise towards the $3,800 zone. ETH began to rise again above the $3,350 level, with the price trading close to $3,500 and the 100-hour Simple Moving Average. There is a key upward trend line forming with support at $3,490 on the hourly ETH/USD chart. The pair may initiate a new increase if it remains supported above the $3,350 zone in the short term.

📈The price of Ethereum has risen further above $3,500, outperforming Bitcoin. The price of ETH gained strength to move above the $3,350 resistance zone, remaining in a positive zone. The bulls pushed the price above $3,500, finally testing the $3,620 zone. A peak was formed at $3,627, and the price is now consolidating gains above the 23.6% Fibonacci retracement level of the upward move from $2,935 to the peak of $3,627.

✅Currently, the price of Ethereum is trading above $3,500 and the 100-hour Simple Moving Average. There is also a key upward trend line forming with support at $3,500 on the hourly ETH/USD chart. On the upside, the price may face resistance near the $3,630 level, with the next key resistance near $3,650. The first major resistance is close to $3,720. A clear move above the $3,720 resistance may push the price towards the $3,800 resistance. A breakout above the $3,800 resistance could indicate further gains in the upcoming sessions, with Ether potentially rising towards the $3,880 resistance zone or even $4,000 in the short term.

👉🏼Technical Indicators:

Hourly MACD: The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI: The RSI for ETH/USD is now above the 50 zone.

Main Support Level: $3,500

Main Resistance Level👇🏼♨️