Ethereum Breaks the $3,400 Resistance but It Is Struggling Below $3,500

Updated:

Ether surges to $3,800 high
The largest altcoin may face rejection in the overbought region

Ethereum ETH) Current Statistics
The current price: $3,492.44
Market Capitalization: $419,575,997,254
Trading Volume: $14,686,410,932
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis April 3, 2022
Ethereum’s (ETH) price has continued its bullish run but it is struggling below $3,500. Ether has risen to the high of $3,500 at the time of writing. The largest altcoin is likely to further rise to the upside as the buyers breach the resistance at $3,400. The altcoin will further rise to the high of $3,800. However, a further upward move is doubtful as the market reaches the overbought region. On the upside, Ether will face rejection at $3,800 high as the altcoin will be seriously in the overbought region. The market will decline to a low of $3,400 and $3,200 price levels.

Ethereum Breaks the $3,400 Resistance but It Is Struggling Below $3,50
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 70 of the Relative Strength Index for period 14. The largest altcoin is trading in the overbought region. Sellers will emerge in the overbought region of the market. However, in a strong trending market, the overbought condition may not hold. The altcoin will continue to rise to the upside. . Ether is above the 80% range of the daily stochastic. The market is also above the overbought region. The 50-day line and 21-day line are sloping upward indicating the uptrend

Conclusion
Ethereum is on an upward move but it is struggling below $3,500. Buyers are struggling to keep the price above the $3,500 price level. The uptrend will resume after this initial resistance is breached. Meanwhile, on April 2 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that ETH will rise but reverse at level 1.618 Fibonacci extension or $3,695.10.

E Ethereum Breaks the $3,400 Resistance but It Is Struggling Below $3,50
ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy LBlock:


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.