Ethereum Surges Ahead but Battles the $3,500 Resistance Zone

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Ethereum breaks above $3,400 high
ETH/USD targets the $3,800 high

Ethereum ETH) Current Statistics
The current price: $3,391.43
Market Capitalization: $407,567,667,323
Trading Volume: $16,119,558,661
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis March 30, 2022
Ethereum’s (ETH) price has continued its bullish run as the market reached the high of $3,436 but battles the $3,500 resistance zone. On the upside, the bulls have succeeded in breaking the resistance levels of $3,000, $3,200, and $3,400. As buyers breach the resistance at $3,400, the market is likely to rise to the next resistance at $3,800. In the meantime, Ether has reached the overbought region of the market. Therefore, the current uptrend may not reach the high of $3,800. The market may be range-bound between $3,200 and $3,400 price levels if Ether breaks below the $3,400 support.

ETH Technical Indicators Reading
Ether is at level 73 of the Relative Strength Index for period 14. The largest altcoin is now in the overbought region of the market. It indicates that the altcoin has reached bullish exhaustion. Sellers are likely to emerge to push prices down. Ether is above the 50% range of the daily stochastic. The market is in a bullish momentum. The 50-day line and 21-day line are sloping upward indicating the uptrend.

Conclusion
Ethereum is on an upward move but battles the $3,500 resistance zone. The largest altcoin has a bullish crossover. Meanwhile, on March 28 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that ETH will rise to level 1.618 Fibonacci extension or $3,595.82.

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