Ethereum Faces $3,500 Hurdle: What’s Next for the Altcoin Giant?

Jul 17, 2024 04:00 am Cryptocurrency 45

Ethereum price remained stable above the $3,400 resistance zone. ETH again tested $3,500 and seems to be struggling to continue higher.

Ethereum is holding gains and struggling near the $3,500 zone.

The price is trading above $3,400 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $3,350 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could continue to rise if it clears the $3,500 and $3,550 resistance levels.

Ethereum Price Faces Key Hurdle, Can It Continue Higher?

Ethereum price remained in a bullish zone above the $3,350 resistance zone. ETH even climbed above the $3,400 resistance to move further into a positive zone. However, the price seems to be facing strong resistance near the $3,500 zone, unlike Bitcoin which surpassed $65,000.

A high was formed at $3,515 and the price is now consolidating
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