Technical Analysis Update: Ethereum

Cryptocurrency Ethereum remains strong, hammering on the $3,700 resistance level. While Ethereum was left behind when Bitcoin made its all-time high in March 2024, it has woken up.

The second largest cryptocurrency by market cap, Ethereum has surged from a low of $2,365 on November 5th, making a high on November 30th at $3,728. This is a monster gain of 58%.

While Ethereum remains strong, it is getting overbought. In addition, Ethereum is running into multiple major resistance levels at $3,700, then $4,000 and $4,100.

Should the bear market return to crypto, Ethereum would find support at $2,775 and $2,400.

Overall, crypto is likely to stay relatively strong until Donald Trump takes over at the White House. Investors in crypto are hoping he makes positive regulatory moves for crypto. If he does not, crypto could start coming down hard and fast.