Ethereum's price is indicating a potential recovery from the $3,550 zone, moving towards a higher trend. ETH is showing bullish signs and may soon attempt to break past the $3,680 resistance zone.
The price corrected downwards, retesting the $3,550 zone, but now trades above $3,600 and the 100-hourly SMA. A bearish trend line is forming with resistance at $3,650 on the hourly ETH/USD chart.
Upon clearing the $3,650 zone, Ethereum could initiate its price increase again. The pair's immediate hurdles include the resistance at $3,650, major resistance at $3,685, and the main resistance near $3,750.
Should ETH surpass the $3,750 and $3,800 resistance levels, further gains becoming likely, potentially pushing the price towards the $3,880 or $3,920 levels.
If Ethereum fails to overcome the $3,650 resistance, it risks sliding again, with initial support around $3,600 and stronger support at $3,550. Falling past $3,580 could lead to further drops towards $3,440 or even as low as $3,350.
Technical indicators signal positivity, with the hourly MACD in the bullish zone and the RSI above the 50 mark.
