{"id":136580,"date":"2021-08-24T06:59:05","date_gmt":"2021-08-24T06:59:05","guid":{"rendered":"https:\/\/precoinnews.com\/?p=136580"},"modified":"2021-08-24T06:59:05","modified_gmt":"2021-08-24T06:59:05","slug":"ethereum-price-analysis-eth-could-surge-above-3400","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-could-surge-above-3400\/","title":{"rendered":"Ethereum Price Analysis: ETH Could Surge Above $3,400"},"content":{"rendered":"
Ethereum price is showing positive signs above $3,200 against the US Dollar. ETH\/USD must stay above the $3,200 support to continue higher in the near term.<\/em><\/p>\n In the past few days, ethereum started a steady increase above the $3,000 zone against the US Dollar. ETH price gained pace after it broke the $3,200 resistance zone.<\/p>\n There was also a close above the $3,200 level and the 55 simple moving average (4-hours). The price accelerated higher above the $3,250 and $3,300 levels. It even spiked above the $3,350 level. A high is formed near $3,383, and the price is now consolidating gains.<\/p>\n It corrected lower below the $3,300 level. It is now testing the 23.6% Fib retracement level of the upward move from the $2,964 swing low to $3,383 high.<\/p>\n An immediate support is near the $3,280 level. The first key support is near the $3,260 level. There is also a major bullish trend line forming with support near $3,260 on the 4-hours chart. If there is a downside break below the trend line support, the price could test $3,200.<\/p>\n The 50% Fib retracement level of the upward move from the $2,964 swing low to $3,383 high is near $3,200 to act as a strong support along with the 55 simple moving average (4-hours). Any more losses could lead the price below $3,120. The next major support is near $3,000.<\/p>\n On the upside, an initial resistance is near the $3,350 zone. The first major resistance is near the $3,380 level, above which the price is likely to resume its rally in the near term. The next stop for the bulls could be near the $3,500 level.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly trading above the $3,200 zone and the 55 simple moving average (4-hours). Overall, ether price could continue to rise as long as it is above $3,260 and $3,200.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is still above the 50 level.<\/p>\n Key Support Levels \u2013 $3,260, followed by the $3,200 zone.<\/p>\n Key Resistance Levels \u2013 $3,350 and $3,380.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n