Ethereum Price Battles at $3,550: Bulls Ready for Another Try?

Jul 23, 2024 04:00 am Cryptocurrency 54

Ethereum price is still struggling to clear the $3,500 resistance zone. ETH is now consolidating and might make another attempt to clear $3,550.

Ethereum is consolidating below the $3,550 resistance zone.

The price is trading above $3,450 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could continue to rise if there is a clear move above the $3,500 resistance zone.

Ethereum Price Holds Gains Above $3,450

Ethereum price remained in a bullish zone above the $3,420 resistance zone. ETH made another attempt to clear the $3,550 resistance zone but failed like Bitcoin. The price reacted to the downside and tested the $3,425 level.

A low is formed near $3,427 and the price is rising. There was a move above the $3,450 level. The price climbed above the 23.6% Fib retracement level of the downward move ..

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