Ethereum Price Outlook: ETH Rises to $3,527 Amid Key Support and Resistance Levels

Ethereum (ETH) is currently trading at $3,527.18, marking a 0.75% increase. The key pivot point to watch is $3,576.45. Immediate resistance levels are $3,723.36, $3,831.74, and $3,973.83.

On the downside, immediate support is found at $3,429.53, with further support at $3,330.79 and $3,219.35.The Relative Strength Index (RSI) stands at 35, indicating that ETH is emerging from oversold conditions.

The 50-day Exponential Moving Average (EMA) is at $3,674.14, suggesting the asset is currently trading below this level, indicating a bearish trend. Despite the bearish signals, the upward trendline around $3,430 is providing strong support.

If Ethereum can maintain above this level, the outlook remains bullish. However, a break below $3,430 could trigger a sharp selling trend. Investors should closely monitor these key levels to gauge market direction. In conclusion, Ethereum shows bullish potential above $3,430.

After #Ethereum broke out to the upside of this bull flag, I believe the yellow support level will be critical.

If $ETH can maintain above this support level, I anticipate it will rise back above the $4000 mark.

Keep your eyes on $ETH people!🧐 pic.twitter.com/Z20UOWPZx5

— TradingWithTroy (@TradingWithTroy) May 30, 2024

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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