🔄 ETH Holding Strong? Bulls Eye Fresh Rally from Key Support
Ethereum has found solid footing near the $3,400 mark, and momentum is building for a potential climb back to $3,800.
📈 Recent Action:
ETH bounced from lows near $3,369 and surged above $3,440 and $3,550.
The price now trades above $3,550 and the 100-hour SMA, signaling bullish momentum.
A bullish trend line is forming with support around $3,620 on the hourly ETH/USD chart.
🔍 Upside Potential:
Immediate resistance sits at $3,720, followed by a stronger barrier near $3,750 (76.4% Fib level from the $3,877 high to $3,369 low).
A breakout above $3,800 could open the door for a rally past $3,880, targeting $4,000 and even $4,120 in upcoming sessions.
📉 Downside Risk:
If ETH fails to clear $3,750, a pullback could begin.
Initial support lies at $3,620, with key levels at $3,600, $3,550, and $3,500.
Deeper losses might drag price back to $3,450 support.
📊 Technical Indicators:
MACD (hourly): Gaining strength in bullish territory.
RSI (hourly): Above 50, suggesting upward momentum.
🔑 Key Levels:
Support: $3,600, $3,550, $3,500
Resistance: $3,750, $3,800, $3,880
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