Ethereum is testing resistance. A break above paves the road tow
Ethereum ETHUSD is testing key resistance at around USD 3,677 and the 0.618 retracement.
A break above is likely to fuel a rally towards all-time highs at around USD 4,092. Some resistance at the 0.786 retracement at USD 3,870.
If breaking above USD 4,092, there is further upside potential to the 1.382 projection at USD 4,486, possibly to the 1.618 projection at USD 4,730.
If ETH is closing above USD 3,697, the strength indicator RSI is also likely closing back above the 60 thresholds, confirming the uptrend.
Conversely, a close below USD 3,200 is necessary to reverse the bullish picture
A break above is likely to fuel a rally towards all-time highs at around USD 4,092. Some resistance at the 0.786 retracement at USD 3,870.
If breaking above USD 4,092, there is further upside potential to the 1.382 projection at USD 4,486, possibly to the 1.618 projection at USD 4,730.
If ETH is closing above USD 3,697, the strength indicator RSI is also likely closing back above the 60 thresholds, confirming the uptrend.
Conversely, a close below USD 3,200 is necessary to reverse the bullish picture