Ethereum Faces Resistance Amid Recovery Wave
- Ethereum price started a recovery wave from the $3,700 zone.
- ETH surpassed $3,750 and $3,800 levels, entering a short-term positive zone.
- The price is trading below the $3,850 resistance and the 100-hourly Simple Moving Average.
- A short-term bearish trend line forms with resistance at $3,850 on the hourly chart of ETH/USD.
- Key resistance levels are identified at $3,920 and potentially up to $4,020 if surpassed.
Ethereum’s price recovery from the $3,700 zone faces significant hurdles near the $3,850 and $3,920 levels due to active bearish trends. The ability to surpass these resistances could lead to further gains toward higher targets like $4,020.
If Ethereum fails to clear these resistance levels, it risks a decline with initial support around $3,740 and potential further losses toward the $3,620 region. (Source)
