Ethereum’s Bullish Ascent Continues as It Challenges the $3,300 High

Ethereum (ETH) Current Statistics
The current price: $3,302.93
 Market Capitalization: $403,194,580,008
Trading Volume: $12,249,889,012
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500
 
 Ethereum (ETH) Price Analysis April 28, 2024
Ethereum’s (ETH) price challenges the $3,300 high after breaking above the 21-day SMA, or the resistance at $3,229. Ether is currently increasing and is projected to reach the 50-day SMA or the next resistance level at $3,417.

Furthermore, if the cryptocurrency’s price breaks above the 50-day SMA, Ether will trade in the bullish zone. The largest altcoin will ascend to its previous high of $3,723. On the upside, if the bulls break through the resistance at $3,723, Ether will skyrocket to its previous high of $4,082.

The bullish scenario will be negated if the bulls fail to breach the 50-day SMA or the resistance at $3.417.The cryptocurrency will be trapped and forced into a range-bound move between the moving average lines. ETH/USD is now valued at $3,321 at the time of writing.

ETH Technical Indicators Reading
Ether’s price is currently above the 21-day SMA but below the 50-day SMA. The cryptocurrency price is trapped and will be compelled to move between the moving average lines. On the 4-hour chart, the price bars are higher than the moving average lines, causing the altcoin to rise.

 Conclusion  
Ethereum has regained positive momentum as it challenges the $3,300 high. Ether had previously traded in a band of $2,908 to $3,200.Today, the largest altcoin has topped its recent high but confronts a new barrier at $3,300. Ether is still anticipated to reach the 50-day SMA or a high of $3,723.

Meanwhile, the crypto signal is encouraging, with Ether continuing its bullish trend.

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