NewsBTC
Jan 17, 2025
5 0

Ethereum Price Surges Above $3,240 with Potential to Reach $3,480

Ethereum Price Update

  • Ethereum price shows recovery above $3,240.
  • Current trading is above $3,300 and the 100-hourly Simple Moving Average.
  • Break observed above resistance at $3,320.
  • Further rise possible if the $3,400 resistance is cleared.

Price Movement Insights

ETH has tested levels up to $3,480, forming a high at $3,473 before a slight correction. It remains above $3,280, indicating bullish momentum.

  • Resistance levels: $3,400 (initial), $3,420 (major), $3,480 (main).
  • Potential rise towards $3,550 if $3,480 is surpassed.
  • Further upside could reach $3,650 or $3,720.

Downside Risk

If resistance at $3,400 holds, ETH may decline. Key supports include:

  • $3,280 (initial support)
  • $3,200 (major support)
  • $3,120 and then $3,050 as additional support levels
  • $3,000 (key support)

Technical Indicators

  • MACD indicates bullish momentum.
  • RSI is above the 50 level.