Aug 7, 2025

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Ethereum Price Recovers Above $3,540, Eyes Move Above $3,740

Ethereum has found support near the $3,540 level and is showing signs of recovery. Key points include:

ETH started an increase above $3,540 and $3,580.
The price is currently above $3,620 and the 100-hourly Simple Moving Average.
A bearish trend line was broken, indicating potential upward movement.
The price faces resistance near $3,750 and $3,820 levels.
If it clears $3,720, further gains towards $4,000 may occur.
Initial support is at $3,620, with major support at $3,540.

Technical indicators are bullish, with MACD gaining momentum and RSI above 50.