Ethereum (ETH) Maintains Upside Stance; Why Surpassing $3,600 is Possible

• Ethereum noted new increases after clearing the resistance at $3,450.
• The alt trades beyond $3.5K and 100-hour SMA.
• Ethereum’s hourly chart shows a vital ascending channel developing with the support of around $3,455.
• The pair might launch another leg-up if its steadies beyond the 43.4K support barrier.

Ethereum gained momentum beyond the resistance of $3.5K. The alt consolidate and might ensure further gains past the hurdle near $3,550.

Ethereum Price Contemplates More Upswings

Ethereum’s price is well beyond the pivot zone of $3.4K. Remember, the alt printed a base and kick-started new surges past the resistance of $3,450. ETH made a clear move beyond $3,500 and 100-hr Simple Moving Average. The token even climbed past $3,550 to trade at $3,580 highs. The price seems to correct lower while consolidating around the $3,500 mark.

ETH moved beneath the 23.6% Fibonacci retracement area of the upside from $3,215 to $3,580. Nevertheless, the altcoin remained steady beyond $3,480. Meanwhile, ETH/USD hourly price chart shows a crucial ascending channel emerging with support of $3,455. On the other side, Ethereum faces resistance around the $3,525 mark.

A surge past this hurdle will see the leading alt at the resistance near $3,575. Remember, ETH had to overpower the obstacle at $3,575 to welcome new upswings. Accomplishing that will see Ethereum exploring levels past the $3,600 vital levels. Bulls will have the next massive stop around the $3,680 highs.

Dips in ETH Price?

Ethereum might extend the downside journey if it fails to trigger new increases past $3,525. Downward price reactions will see the crypto hitting the initial support at $3,500. ETH trades flat within the 24hr scale, changing hands around $3,503.15 at this publication.

Meanwhile, another downside support stands at $3,425 and 100-hourly Simple Moving Average. Ethereum’s primary foothold is around $3.4Kk or the 50% Fibonacci retracement of the $3,215 to $3,580 move. Violating the support zone of $3.4K might push Ether to the $3,220 area.

Nevertheless, ETH might depend on broad market sentiment for upcoming price bias. The global market cap sits at $2.15 trillion, following a 0.23% overnight drop. Extending the downside narrative might ruin Ether’s optimistic move past $3.6K.

Technical Indicators

Massive support floor – $3,400

Crucial resistance zone – $3,575.

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