Ethereum has recently exhibited substantial bullish momentum by breaking above the $3,400 mark and managing to maintain this support, even amidst minor market corrections.
A crucial bullish trend line has developed with significant support at $3,400, as observed on the hourly chart, indicating an ongoing upward trend in its price.
Technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest continued positive momentum in the bullish zone, reinforcing optimistic sentiment among Ethereum traders.
Ethereum faces major resistance levels at $3,500 and $3,550, which if overcome, could signal further upward potential for the cryptocurrency.
