The price of Ethereum (one of the top 10 Altcoins) in the market is experiencing upward momentum and has surpassed the $3,600 resistance level. If it clears the $3,725 resistance, it could continue its upward move.
The price is currently trading above $3,650 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $3,480. The immediate resistance levels are $3,725 and $3,750, with further resistance at $3,800 and $3,880.
If there is a strong breakthrough, the price may rise towards the $4,000 resistance. On the downside, initial support is around $3,620, followed by the $3,500 zone and the trend line.
Further support levels are at $3,420 and $3,350, with a potential drop to $3,220. The MACD indicator shows bullish momentum, and the RSI is above the 50 level.
Source: NWSBTC
