Ethereum Recovery Faces Key Resistance Levels
- Ethereum price has started a recovery wave above $3,500.
- ETH is trading above $3,550 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $3,520 on the hourly chart of ETH/USD.
- The price faces resistance near the $3,650 level and could see further resistance at $3,710 and $3,740.
- If ETH breaks above $3,740, it might move toward the next resistance at $3,880.
Ethereum’s recovery wave has seen it surpass critical levels like $3,420 and $3,500. However, significant resistance remains near the $3,650 mark which could impede further upward movement.
A successful break above key resistances such as $3,740 could propel Ethereum towards higher targets like $3,880 or even beyond in the short term. (Source)
