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Can Ethereum Really Go Over $ 3.500 By Tomorrow?

Ethereum it has gained strength above the $ 3.200 and $ 3.350 levels, and could start a new rally if it is able to rise above $ 3.450 and $ 3.500.

Ethereum has indeed started a steady increase after settling above the $ 3.200 level, and the price of ETH is now trading above $ 3.300 and the 100-hour simple moving average. The pair could therefore remain well supported near the $ 3.300 and $ 3.250 levels, from where a new assault on the next resisters could start.

Incidentally, the price also has closed above the $ 3.300 level, to be traded up to $ 3.489 and then correct lower, as also done by Bitcoin. Ether then broke below the $ 3.400 support level and broke a key bullish trend line with support near $ 3.400. It is now trading above the $ 3.320 support level.

At this point, it is worth remembering that a resistance immediate is placed near the $ 3.400 level, and that the first key resistance is just above $ 3.420. A break above the $ 3.420 level could allow the start of a steady rise. The next major resistance is near the $ 3.500 zone, above which the price could accelerate higher.

Conversely, if Ethereum fails to continue rising above the $ 3.420 and $ 3.500 resistance levels, a new downward correction could begin. Initial bearish support is near the $ 3.300 level. The first key support is forming near the $ 3.250 level and the 100-hour simple moving average. If Ether fails to stay above $ 3.250, it could test $ 3.230.

 

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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