Ethereum Price Rockets to $3,500 Again: Can Bulls Ignite a Higher Surge?

Jul 16, 2024 04:00 am Cryptocurrency 51

Ethereum price gained pace above the $3,350 resistance zone. ETH even tested $3,500 and aims for more upsides in the near term.

Ethereum is showing strength and tested the $3,500 level.

The price is trading above $3,350 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $3,320 on the hourly chart of ETH/USD (data feed via Kraken).

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

Ethereum Price Climbs 10%, Bulls In Action

Ethereum price started a major increase above the $3,250 resistance zone. ETH even climbed above the $3,350 resistance to move further into a positive zone. Finally, there was a move above the $3,440 resistance, like Bitcoin.

It tested the $3,500 resistance zone. A high was formed at $3,497 and the price is now consolidating gains. The bulls seem to be active well above the 23.6% Fib retracement level of the upward wave from ..

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