Ethereum price cleared the $4,000 resistance zone. ETH is now consolidating gains and might extend its increase above the $4,100 zone. 
<ul> 
 <li>Ethereum traded to a new multi-month high above $4,050.</li> 
 <li>The price is trading above $4,000 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a short-term breakout pattern forming with resistance at $4,060 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could resume its increase if it clears the $4,080 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-reclaims-4k">Ethereum Price Reclaims $4K</h2> 
Ethereum price remained well-bid above the $3,880 level and extended its increase, like <a href="https://www.newsbtc.com/analysis/eth/bitcoin-price-resumes-rally-75k/" target="_blank" rel="noopener ">Bitcoin</a>. ETH was able to clear the key $4,000 resistance to move further into a positive zone. 
The price settled above the $4,000 level. It traded to a <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-consolidation-3800/" target="_blank" rel="noopener ">new multi-month high</a> above $4,000 and recently started a consolidation phase. There was a pullback below the $4,050 level. The price tested the 23.6% Fib retracement level of the recent increase from the $3,820 swing low to the $4,088 high. 
Ethereum price is now consolidating above $4,000 and the 100-hourly Simple Moving Average. There is also a short-term breakout pattern forming with resistance at $4,060 on the hourly chart of ETH/USD. 
If the pair stays above the $4,000 level, it could attempt another increase. Immediate resistance on the upside is near the $4,060 level. The first major resistance is near the $4,080 level. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597391" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_af7ff2.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
The next major resistance is near $4,120, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $4,220 level. If there is a move above the $4,220 resistance, Ethereum could even rise toward the $4,300 resistance. Any more gains might call for a test of $4,350. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported In ETH?</h2> 
If Ethereum fails to clear the $4,060 resistance, it could start a downside correction. Initial support on the downside is near the $4,020 level. 
The first major support is near the $3,950 zone or the 50% Fib retracement level of the recent increase from the $3,820 swing low to the $4,088 high. The next key support could be the $3,920 zone. A clear move below the $3,920 support might send the price toward $3,880. Any more losses might send the price toward the $3,780 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $3,950 
Major Resistance Level – $4,080

Ethereum Price Uptrend To Continue? These Factors Could Send ETH To $4,300

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