Ethereum (ETH) Price Strength Targets $3,800 Mark
reaked through the $3,450 and $3,550 resistance levels with significant trading volume, indicating genuine buyer interest. This positive momentum led ETH to surpass the 100-hour Simple Moving Average, a promising sign for continued price strength.
A bullish trend line has formed with support at $3,700, providing traders with a clear reference point for potential future price action. Despite reaching a local high of $3,748, the market entered a consolidation phase to digest recent gains and potentially establish a new base for further growth.
Looking ahead, traders are eyeing key resistance levels at $3,740, $3,750, and $3,800. A break above $3,880 could pave the way for ETH to target $4,000. On the support side, levels at $3,700, $3,675, and $3,640 could help protect against downside movement if needed.
Technical indicators like the MACD and RSI suggest that buyers are still in control of the market, despite signs of decreasing momentum. Institutional and retail investors continue to show strong interest in Ethereum, supporting the ongoing price action backed by technical factors and market dynamics.
Overall, Ethereum’s price movement remains positive, with potential for further gains if key resistance levels are breached. Traders are keeping a close eye on market conditions as ETH continues its upward trajectory.
