Ethereum Price Bounces Back Yet Lacks Strong Bullish Drive

Jul 1, 2024 04:00 am Cryptocurrency 15

Ethereum price is attempting a fresh increase above the $3,450 resistance zone. ETH must settle above $3,550 to continue higher in the near term.

Ethereum slowly moved higher above the $3,450 zone.

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

There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $3,520 and $3,550 resistance levels to continue higher.

Ethereum Price Faces Resistance

Ethereum price started a decent recovery wave above the $3,400 level. ETH even cleared the $3,420 level to move into a short-term positive zone like Bitcoin.

There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD. The pair even cleared the $3,500 resistance zone. A high ..

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