Ethereum's price is seeing a resurgence, rising above the $3,550 mark and gunning for the $3,700 resistance. The cryptocurrency is trading over $3,620 and the 100-hour Simple Moving Average. A bullish trend line with support at $3,620 is forming on ETH/USD's hourly chart.
If Ethereum successfully surpasses $3,700, it could gain more steam, targeting resistances at $3,800 and possibly $3,920. However, should it fail, declines may test supports at $3,620 and $3,550, with further potential drops to $3,420.
The hourly MACD indicates growing bullish momentum, while the RSI rests above the 50-mark. Major support and resistance levels to watch are $3,620 and $3,700, respectively.
