NewsBTC
Aug 6, 2025
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Ethereum Price Struggles to Hold Above $3,700 After Recent Increase

Ethereum Price Update

Ethereum price is currently experiencing fluctuations, having found support near $3,400 but struggling to maintain levels above $3,700.

  • Recent increase noted above $3,440 and $3,500.
  • Current trading below $3,620 and the 100-hourly Simple Moving Average.
  • Key bullish trend line broken with support at $3,620 on the hourly chart.
  • Further increases possible if price remains above $3,500.

Current Price Action

Ethereum began to recover from the $3,365 support level, surpassing both $3,400 and $3,500. However, resistance was encountered near $3,750, particularly at the 61.8% Fib retracement level from the recent downward move.

Currently, Ethereum trades below $3,600 and the 100-hourly SMA, with immediate resistance around $3,620 and a significant resistance at $3,700.

Ethereum Price

The first major resistance is at $3,750, with potential for upward movement towards $3,820 and higher targets of $4,000 or $4,120 if broken.

Potential for Further Decline

If Ethereum does not breach the $3,620 resistance, a decline may occur. Initial support is near $3,550, followed by critical supports at $3,510 and $3,420. A drop below $3,510 could lead to further losses toward $3,350 and possibly $3,220.

Technical Indicators

  • MACD indicates increasing bearish momentum.
  • RSI is below the 50 mark.
  • Major Support Level: $3,550
  • Major Resistance Level: $3,750