Ethereum Gains Traction as It Rises to the Next Barrier At $3,466

Ethereum Price Long-Term Analysis: Bearish
The price of Ethereum (ETH) rises despite remaining below the moving average lines as it rises to the next barrier at $3,466. The candlestick has closed above the 21-day SMA, and the altcoin is predicted to surge beyond the 50-day SMA or surpass the $3,413 high. On the upside, if buyers maintain the price above the moving average lines, the altcoin will reach a high of $3,731.

The positive trend is expected to continue to the $4,000 psychological price level. If the bulls fail to cross the 50-day SMA, the cryptocurrency will fall and become caught between the moving average lines. A range-bound movement will commence until the moving average lines are violated. The current value of ETH/USD is $3,272.

 Technical indicators:  
Major Resistance Levels – $3, 600, $3,800, $4,000
Major Support Levels – $2.600, $2, 400, $2,200

Ethereum Indicator Analysis 
Following the altcoin’s steady ascent, the price bar has crossed above the 21-day SMA. Currently, Ether will fluctuate between the moving average lines. When the 50-day SMA is exceeded, Ether will trend upward. On the 4-hour chart, the price bars are higher than the moving average lines, causing the altcoin to rise.  
 
Conclusion  
Ethereum is gaining traction as it rises to the next barrier at $3,466. Since April 13, 2024, the cryptocurrency price has fluctuated between $2,908 and $3,300. If the resistance at $3,300 is broken, Ether will continue to soar to the next barrier at $3,700. Currently, the crypto signal is favorable as the altcoin continues to rise to the previous highs.  

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