Ethereum Resumes Its Bullish Ascent above the $3,600 Support

Ethereum (ETH) Current Statistics

The current price: $3,661.72
Market Capitalization: $441,048,490,852.05
Trading Volume: $43,099,108,931.20
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis December 3, 2024

The price of Ethereum (ETH) has stayed steady above the $3,600 support level as the altcoin begins its upward trend. The cryptocurrency price is rising as it seeks to break above the $3,700 resistance level for the second time. According to the price prediction, Ether has the potential to revisit the psychological price level of $4,000. However, the bullish momentum will find resistance at $3,700 and $3,800.

A break above the resistance levels will take Ether towards the projected price level. However, if the altcoin is rejected again at the current high, the sideways trend will continue. Ether will trade above the moving average lines but below the resistance level of $3,800.

ETH Technical Indicators Reading

The price bars are above the upward-sloping moving average lines. However, on the 4-hour chart, the price bars are caught between the moving average lines. This signifies cryptocurrency will trade in a range for a few days. The Doji candlesticks contribute to the delayed price movement.

Conclusion

Ether has fallen between the moving average lines but resumes its bullish ascent above the $3,600 support. The cryptocurrency price has been locked for the last 48 hours. Ether trades above the 50-day SMA support but below the 21-day SMA resistance. The bullish trend will restart whenever the price breaks above the 21-day SMA. The crypto signal is favorable, as Ether continues its upward trend.

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