Ethereum's Price Surge: Can It Break the $3,650 Barrier?

The Ethereum market is buzzing with activity as the cryptocurrency recently reclaimed significant price levels. Currently, Ethereum is hovering around the $3,600 mark, with a market cap exceeding $425 billion, solidifying its status as one of the most prominent players in the crypto space.

At this juncture, the $3,650 resistance level plays a crucial role. A successful breakthrough here can signal a substantial upward trend, attracting both short-term traders and long-term investors alike.

In this article, you’ll discover essential trading strategies, useful technical indicators to employ, and actionable insights that can enhance your trading game.

Ethereum has seen a robust recovery, moving up approximately 12% over the last week. Key price levels to keep an eye on include:

Over the past six months, Ethereum has experienced a volatile journey, with price fluctuations between $2,400 and $4,000. The 61.8% Fibonacci retracement level currently aligns with $3,650, indicating strong support for potential upward movement.

Support is noted at $3,520 and resistance at $3,650. These levels can dictate your trading strategies—buying near support and selling at resistance is a common approach that many professional crypto traders use.

If you're considering short-term trading, look for volatility as your friend. Recommended entry points are around $3,600, with exit points near $3,650 and $3,700. Keep your eyes peeled for those quick wins!

For those engaging in mid-term trades, consider entering when Ethereum approaches $3,740. A breakout beyond this level could lead to a rally toward $3,880, giving you some nice gains along the way.

💡 PRO TIP: Focus on MACD and RSI for momentum analysis. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are critical indicators to measure Ethereum's strength and potential reversals.

Utilizing the 100-hourly Simple Moving Average (SMA) can help indicate potential entry points. If the price consistently stays above this line, it signals a bullish momentum that could benefit you.

Volume spikes often precede significant price movements. Analyzing trading volume alongside price action can provide valuable insights, helping you make informed decisions.