The Best meme coins websitesecond-largest cryptocurrency continues to exhibit strength as it builds momentum above crucial support zones. Market participants are closely monitoring Ethereum's price action for potential breakout signals.
ETH maintains its bullish structure while holding above the $3,650 support level
Current trading activity occurs comfortably above both the $3,750 mark and the 100-hour moving average
Technical charts reveal an ascending trendline offering dynamic support near $3,800
Overcoming the $3,880 resistance could trigger additional upward movement
Ethereum Builds Momentum for Potential Upswing
Following successful defense of the $3,650 support area, Ethereum established a solid foundation before initiating its current upward trajectory. The digital asset has demonstrated resilience by surpassing the $3,700 threshold and subsequently conquering the $3,800 resistance level.
After peaking near $3,895, ETH continues to display constructive technical characteristics. The cryptocurrency currently trades above the 23.6% Fibonacci retracement level, measured from the recent swing low of $3,505 to the $3,895 high. The aforementioned trendline support at $3,800 adds further credibility to the bullish case.
With price action comfortably positioned above both the $3,750 level and the 100-hour simple moving average, Ethereum faces immediate resistance near $3,895. Subsequent barriers emerge at $3,920 and $3,950, with the latter representing a crucial inflection point for market direction.
Potential Scenarios for Ethereum's Next Move
A decisive breakout above the $3,950 resistance could propel ETH toward the psychologically significant $4,000 level. Successful clearance of this barrier might accelerate buying pressure, potentially targeting the $4,050-$4,120 range in subsequent trading sessions.
Conversely, failure to overcome the $3,920 resistance could prompt profit-taking activity. Initial downside support appears near $3,800, followed by more substantial buying interest around $3,750. A breach below this zone might test the $3,700 support level, which coincides with the 50% Fibonacci retracement of the recent upward move.
Technical Indicators
Hourly MACD – The moving average convergence divergence indicator shows increasing bullish momentum
Hourly RSI – The relative strength index maintains its position above the neutral 50 level
Critical Support Zone – $3,700
Key Resistance Area – $3,920
