BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Ethereum Nears Resistance? Daily Chart Suggests It Could Still Go Up

by Matoy
November 27, 2024
in Breaking News, Crypto
A A
3
SHARES
Share on TwitterShare on Reddit
  • Ethereum shows steady upward movement, climbing toward the $3,560 resistance level but encountering slight slowing momentum.
  • Volume remains subdued, potentially limiting the breakout potential in the short term without renewed buying interest.
  • RSI points to mild overbought conditions, signaling caution for traders as the rally approaches a critical threshold.

Ethereum’s daily chart demonstrates a gradual recovery, with the asset gaining traction from its previous lows near $3,360. The price has steadily climbed, closing near $3,560 at its recent high. This movement reflects consistent buying interest but lacks the volume to signal robust momentum.

The price’s approach to a resistance zone at $3,560 suggests a possible consolidation phase if Ethereum fails to break this level. Buyers will need to increase participation to sustain the current rally and avoid retracement toward the $3,480 support.

Technical Indicators Show Overbought State

The Relative Strength Index (RSI) indicates Ethereum is nearing overbought levels, with a reading close to 70. This suggests that buying pressure could be easing, making it more challenging for the price to maintain its upward trajectory without a surge in trading activity.

Volume trends remain modest, failing to support a strong breakout above $3,560. If this level is not breached, sellers may regain control, driving the price toward $3,480 or even lower support levels.

TradingView

Trump Hype May Still Trigger Rally

Ethereum faces a pivotal test as it approaches $3,560. A sustained move above this level could pave the way for gains toward $3,600 and beyond. However, failure to break the resistance might result in a pullback, with $3,480 and $3,400 acting as key support zones.

Traders should monitor broader market dynamics and watch for significant volume spikes, which could indicate the next major price move. While the trend remains bullish, caution is warranted due to the overbought RSI and inconsistent volume support.

Tags: ethereum
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

Dogwifhat’s Comeback: Will $1.00 Hold as WIF Targets Higher?
Crypto

Dogwifhat’s Comeback: Will $1.00 Hold as WIF Targets Higher?

May 17, 2025
BONK and DeFi Dev Corp Partner for Solana Validator, Despite Price Dip
Crypto

BONK and DeFi Dev Corp Partner for Solana Validator, Despite Price Dip

May 17, 2025
Conflicting Signals for AVAX: NFT Mania vs. Weak Demand
Crypto

Conflicting Signals for AVAX: NFT Mania vs. Weak Demand

May 17, 2025
HYPE’s Billion-Dollar Milestone: TVL Surge and Bullish Channel Defy Spot Volume Dip
Crypto

HYPE’s Billion-Dollar Milestone: TVL Surge and Bullish Channel Defy Spot Volume Dip

May 17, 2025
USD1 Goes Cross-Chain: Chainlink Partnership Unlocks Massive Growth Potential
Chainlink

USD1 Goes Cross-Chain: Chainlink Partnership Unlocks Massive Growth Potential

May 17, 2025
SUI Unleashed: Institutional Money and DeFi Volume Propel Its Rise
Crypto

SUI Unleashed: Institutional Money and DeFi Volume Propel Its Rise

May 17, 2025
Load More

Related News

Dogwifhat’s Comeback: Will $1.00 Hold as WIF Targets Higher?

Dogwifhat’s Comeback: Will $1.00 Hold as WIF Targets Higher?

May 17, 2025
BONK and DeFi Dev Corp Partner for Solana Validator, Despite Price Dip

BONK and DeFi Dev Corp Partner for Solana Validator, Despite Price Dip

May 17, 2025
Conflicting Signals for AVAX: NFT Mania vs. Weak Demand

Conflicting Signals for AVAX: NFT Mania vs. Weak Demand

May 17, 2025
HYPE’s Billion-Dollar Milestone: TVL Surge and Bullish Channel Defy Spot Volume Dip

HYPE’s Billion-Dollar Milestone: TVL Surge and Bullish Channel Defy Spot Volume Dip

May 17, 2025
USD1 Goes Cross-Chain: Chainlink Partnership Unlocks Massive Growth Potential

USD1 Goes Cross-Chain: Chainlink Partnership Unlocks Massive Growth Potential

May 17, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.