Ethereum price is currently trading above the $3,500 mark, showing a strengthened base with bullish prospects. It faces crucial resistance at $3,600, with the potential for a fresh surge.
The cryptocurrency recently corrected from a high of $3,688 and is now encountering hurdles at $3,600. Successful clearance of this resistance could lead to Ethereum aiming for higher targets such as $3,680 and possibly $3,750.
If Ethereum does not manage to surpass the $3,650 resistance, it risks entering a downward trend. The first major support level on this potential decline stands at $3,500, followed by $3,470 and possibly $3,400.
Technical indicators show the MACD losing bullish momentum, with the RSI hovering above 50, indicating mixed market sentiment and potential for volatility.
