Ethereum price has increased gradually, surpassing the $3,400 mark, and is consolidating as it eyes the $3,500 resistance. Currently, ETH trades above $3,400 and the 100-hourly Simple Moving Average, with a bullish trend line forming near $3,400, suggesting potential for further upward movement.
The bulls pushed ETH above $3,500, reaching a high of $3,545 before correcting slightly. While the price dipped below $3,500, it remains supported above $3,400. A major resistance is seen near $3,550, and breaking through could propel the price toward $3,650 and possibly $3,880.
If Ethereum fails to break the $3,500 resistance, it may decline, with initial support around $3,400. A sustained move below this level could see ETH tumbling toward $3,350 and further to $3,285. The MACD shows bullish momentum, and the RSI is in a positive zone, supporting a potential upward trajectory.
