Ethereum Price Analysis: ETH Retesting All-Time High Levels at $3,500 Resistance

[Cz Rock]

ETH/USD – 27% Weekly Price Hike Sees New ATH At $3542
Key Support Levels: $3400, $3200, $3076.
Key Resistance Levels: $3542, $3656, $3800.

Ether is up by a total of 27% this week and it set a new ATH price at $3542 yesterday. It headed lower slightly today but rebounded from the support at $3400 to trade at $3485.

ETH is now in a steep ascending price channel since breaking out of a symmetrical triangle pattern in the last few days of April. In May, ether broke above $2800 and continued higher above $3000 on Monday – reaching $3400. On Tuesday, it dropped to $3200 but rebounded from there yesterday to set the new ATH price.

The $3,500 level forms a notable resistance – it was tested a few times in the past few days and it’s important for the price to overcome it definitively to continue higher.

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