Ethereum

Resistance

Ethereum price is struggling above the $4,000 zone. ETH is slowly moving lower and there is a risk of a downside thrust toward the $3,850 support. 
<ul> 
 <li>Ethereum traded to a new multi-month high above $4,080 before correcting lower.</li> 
 <li>The price is trading below $4,000 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $3,965 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could resume its increase if it clears the $4,025 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-holds-support">Ethereum Price Holds Support</h2> 
Ethereum price extended its increase above the $4,050 level, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surge-toward-75k/" target="_blank" rel="noopener ">Bitcoin</a>. ETH traded to a new multi-month high above $4,080 before there was a downside correction. 
The price declined below the $4,000 level. It seems like Ether bulls are struggling to keep the price above $4,000. There was a move below the 23.6% Fib retracement level of the upward move from the $3,830 swing low to the $4,083 high. 
Ethereum price is now trading below $3,980 and the 100-hourly Simple Moving Average. However, the bulls are active near the $3,950 zone. There is also a connecting bullish trend line forming with support at $3,965 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $3,830 swing low to the $4,083 high. 
If the pair stays above the $3,950 level, it could attempt <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-dips-3830/" target="_blank" rel="noopener ">another increase</a>. Immediate resistance on the upside is near the $4,025 level. The first major resistance is near the $4,050 level. The next major resistance is near $4,085, above which the price might gain bullish momentum. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597799" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Ethereum_992d8e.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> 
In the stated case, Ether could rally toward the $4,150 level. If there is a move above the $4,150 resistance, Ethereum could even rise toward the $4,250 resistance. Any more gains might call for a test of $4,320. 
<h2 id="downside-break-in-eth">Downside Break In ETH?</h2> 
If Ethereum fails to clear the $4,025 resistance, it could start a downside correction. Initial support on the downside is near the $3,950 level. 
The first major support is near the $3,880 zone. The next key support could be the $3,830 zone. A clear move below the $3,830 support might send the price toward $3,750. Any more losses might send the price toward the $3,650 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 below the 50 level. 
Major Support Level – $3,950 
Major Resistance Level – $4,025

Ethereum Price Faces Many Hurdles, Downside Thrust Before Fresh Increase?

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