Ethereum On The Rise and Outperforms Bitcoin: Signals Indicate Fresh Increase

Jun 17, 2024 06:00 am Cryptocurrency 23

Ethereum price started a fresh increase from the $3,365 zone. ETH outperformed Bitcoin and might aim for a move toward the $3,800 resistance zone.

Ethereum started a recovery after the bulls appeared near the $3,365 zone.

The price is trading above $3,550 and the 100-hourly Simple Moving Average.

There was a break above a key bearish trend line with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could extend gains if it stays above the $3,550 pivot level.

Ethereum Price Outperforms Bitcoin

Ethereum price extended losses below $3,550 and $3,500 resistance levels. However, ETH bulls took a strong stand near the $3,350 zone. A low was formed at $3,364 level and the price started a fresh increase, outperforming Bitcoin.

There was a move above the $3,450 and $3,550 resistance levels. There was a break above ..

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