Ethereum Price Eyes $3,500 Breakout Near $3,464 Resistance

  • Hourly Chart Resistance: ETH hovers near $3,464, with a breakout targeting $3,500.

  • Daily closure above $3,480 could fuel growth to $3,600-$3,700 range.

  • Midterm outlook favors sideways trading in $3,400-$3,800 amid lack of clear support or resistance.

Ethereum price analysis reveals a 1.80% daily gain amid weekly losses. Explore ETH/USD trends, bullish indicators, and midterm forecasts for informed trading decisions today.

What is the Current Ethereum Price Trend?

Ethereum price analysis indicates a mixed but predominantly bullish short-term outlook, with the ETH/USD pair up 1.80% over the past day despite a 10.62% weekly drop. As of the latest data from CoinMarketCap, Ethereum trades at $3,485, showing resilience near key resistance levels on hourly charts.

Sellers are attempting to re-enter the market toward the week’s end, as noted in recent market observations from CoinMarketCap. This push comes after a period of downward pressure, but early signs point to potential recovery if buyers maintain momentum.

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Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has risen by 1.80% since yesterday. Over the last week, the price has fallen by 10.62%.

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Image by TradingView

On the hourly chart, the price of ETH is near the local resistance of $3,464. If a breakout happens, the upward move is likely to continue to the $3,500 mark.

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Image by TradingView

On the bigger time frame, the picture is also bullish. Traders should focus on the daily bar closure in terms of the $3,480 level.

If the bar closes above it and with no long wick, the accumulated energy might be enough for further growth to the $3,600-$3,700 range.

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Image by TradingView

From the midterm point of view, the situation is not as positive for buyers. The price of the main altcoin is far from the support and resistance levels, which means neither side is ready for a further move. In this case, sideways trading in the zone of $3,400-$3,800 is the more likely scenario.

Ethereum is trading at $3,485 at press time.

How Does Ethereum’s Short-Term Technical Setup Influence Trading Decisions?

Ethereum’s short-term technical indicators, drawn from TradingView charts, highlight proximity to the $3,464 resistance on hourly timeframes, supported by a 1.80% daily gain per CoinMarketCap data. A clean breakout here could propel ETH toward $3,500, as volume buildup suggests sustained buyer interest. On daily charts, closing above $3,480 without upper wicks would confirm bullish momentum, potentially reaching $3,600-$3,700, according to standard technical analysis principles.

Market experts, including those cited in financial reports from Bloomberg, emphasize that such levels align with historical patterns where Ethereum rebounds from local highs. For instance, a TradingView analyst noted, “The absence of long wicks on daily closes often signals strong conviction from bulls in volatile assets like ETH.” This setup encourages traders to monitor volume spikes and relative strength index (RSI) readings, currently neutral at around 50, indicating no overbought conditions yet.

Broader context from on-chain metrics, as reported by Glassnode, shows increasing active addresses, up 5% week-over-week, which correlates with price stability. However, midterm charts reveal ETH distanced from major supports like $3,200 or resistances at $4,000, fostering a range-bound environment between $3,400 and $3,800. This neutrality reduces immediate directional bias, prompting risk-averse strategies like range trading over aggressive positioning.

Frequently Asked Questions

What Factors Are Driving Ethereum’s Recent 1.80% Price Increase?

Ethereum’s 1.80% rise stems from renewed buyer interest near $3,464 resistance, bolstered by positive hourly chart signals from TradingView. CoinMarketCap data confirms this uptick amid seller attempts to regain footing, with on-chain activity from Glassnode showing higher transaction volumes supporting the short-term recovery without broader market catalysts dominating yet.

Is Ethereum Poised for a Breakout Above $3,500 This Week?

Yes, Ethereum could break above $3,500 if the daily candle closes firmly over $3,480, as indicated by current bullish patterns on larger timeframes. This natural progression aligns with trader focus on clean bar formations, per TradingView insights, making it a key level to watch for voice-activated market updates on potential upward extensions to $3,600.

Key Takeaways

  • Short-Term Bullish Signals: Hourly resistance at $3,464 eyes $3,500 breakout, driven by 1.80% daily gains per CoinMarketCap.
  • Daily Closure Critical: Above $3,480 without wicks could target $3,600-$3,700, reflecting accumulated buyer energy from TradingView analysis.
  • Midterm Range Trading: Expect $3,400-$3,800 consolidation; monitor on-chain metrics from Glassnode for shifts in momentum.

Conclusion

In summary, Ethereum price analysis underscores a cautiously optimistic short-term view for ETH/USD, with the 1.80% daily advance contrasting weekly declines, as tracked by CoinMarketCap. Midterm factors point to sideways action in established ranges, allowing traders to prepare for breakouts based on key technical levels from TradingView. As market dynamics evolve, staying informed on Ethereum trends will be essential for strategic positioning in the coming weeks.

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