Posted 1/2/2024, 1:30:00 PM
Ethereum Nears Major Price Resistance at $3,500 as Bullish Momentum Builds
- Ethereum (ETH) price approaching long-term horizontal resistance area around $3,500
- Price has increased significantly since October alongside ascending support trendline
- Weekly RSI approaching overbought territory, which previously catalyzed parabolic upward movements
- Analysts and traders have a bullish view on future ETH price trend
- If ETH breaks above resistance at $2,370, it could trigger a sharp rise to $3,360-$3,500