Ethereum price is holding gains above the $3,500 zone. ETH is consolidating and might soon aim for a move above the $3,600 resistance zone.

• Ethereum started a downside correction from the $3,685 zone.
• The price is trading above $3,520 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could restart its increase if it clears the $3,600 zone.

Ethereum Price Eyes Fresh Surge

Ethereum price remained supported above $3,250 and started a fresh increase beating Bitcoin. ETH was able to surpass the $3,500 and $3,550 resistance levels.

The bulls pumped the price above the $3,650 level. A high was formed at $3,688 and the price recently corrected some gains. There was a minor decline below the $3,650 and $3,620 levels. The price dipped below the 23.6% Fib retracement level of the upward wave from the $3,255 swing low to the $3,688 high.

Ethereum price is now trading above $3,520 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,600 level. There is also a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH/USD.

The first major resistance is near the $3,650 level. The main resistance is now forming near $3,680. A clear move above the $3,680 resistance might send the price toward the $3,750 resistance. An upside break above the $3,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920.

More Losses In ETH?

If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,540 level. The first major support sits near the $3,500 zone.

A clear move below the $3,500 support might push the price toward the 50% Fib retracement level of the upward move from the $3,254 swing low to the $3,688 high at $3,470. Any more losses might send the price toward the $3,400 support level in the near term. The next key support sits at $3,350.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,540

Major Resistance Level – $3,650

Bitcoin price is recovering higher above the $95,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,000 level.

• Bitcoin started a fresh increase above the $95,000 zone.
• The price is trading above $95,500 and the 100 hourly Simple moving average.
• There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could gain bullish momentum if it clears the $97,000 resistance zone.

Bitcoin Price Eyes More Upsides

Bitcoin price remained stable above the $93,500 zone. BTC formed a base and started a fresh increase above the $94,500 resistance zone. The bulls were able to push the price above the $95,500 resistance zone.

There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.

Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.

The first key resistance is near the $98,500 level. A clear move above the $98,500 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level.

The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $95,500, followed by $94,500.

Major Resistance Levels – $97,000, and $98,800.

This November, many altcoins have shown that they are ready to challenge Bitcoin’s (BTC) dominance. As a result, some of these cryptocurrency are part of the top trending assets.

While outperforming BTC is not the only reason these cryptos are on the list, BeInCrypto reveals other reasons in this analysis. Using CoinGecko data, the top three altcoins trending today, November 28, include Thena (THE), Sui (SUI), and Just a Chill Guy (CHILLGUY)

THENA (THE)

THE, the native token of the decentralized exchange built on the BNB Chain, is part of the trending altcoins today due to its price increase. In the last 24 hours, THENA’s price has increased by 130% and currently sits at $3.88.

This development was also aided by Binance’s support of the cryptocurrency through its listing some days ago. Before the development, THE was swinging between $0.15 and $0.50. However, it appears that the Binance listing has brought more attention to the altcoin.

As a result, the volume has also increased. Should volume continue to climb as well as the price, then THE could hit $5. On the other hand, if profit-taking increases, this might not happen. In that case, the value could decline below $2.

Sui (SUI)

Like THENA, Sui is also one of the trending altcoins today due to its price increase. However, it is important to note that the crypto did not replicate THE’s performance. Instead, it climbed slightly by 5% in the last 24 hours.

Despite the altcoin’s increase, the Money Flow Index (MFI) on the daily chart, has dropped below the neutral line. The MFI measures the level of buying and selling pressure around a cryptocurrency.

When it rises, it means buying pressure in the present. However, since it has dropped in SUI’s case, it indicates selling pressure. Considering this current condition, the altcoin’s value might drop to $2.38.

But if buying pressure comes into play again, this forecast might be invalidated. In that situation, SUI’s price might rally above $3.95.

Just a Chill Guy (CHILLGUY) 

CHILLGUY is one of the trending altcoins today, with reasons similar to THENA. Just yesterday, Binance listed the Solana meme coin on its perpetual market, causing a brief spike in the token’s value.

However, in the last 24 hours, the price has decreased by 16.40%, suggesting that the listing was a “buy the rumor, sell the news” event. On the 4-hour chart, the volume around the token has decreased. Hence, the price is likely to continue to drop, with possible targets around $0.45. 

On the other hand, if interest in CHILLGUY jumps again, this might not happen, and the price might rise to $0.70.