Ethereum News: Price Faces Resistance at $3,500, Momentum in Question

Ethereum's price recently faced another rejection at the $3,500 resistance level, failing to sustain momentum above this critical threshold. Currently trading below $3,320 and the 100-hourly Simple Moving Average, ETH/USD is showing signs of a bearish trend. A short-term bearish trend line is forming with resistance at $3,380 on the hourly chart, indicating potential challenges for upward movement. Despite a brief move above $3,320, Ethereum's gains were limited compared to Bitcoin, leading to a correction. This raises questions about whether Ethereum can regain momentum and break through key resistance levels in the near future.

Ethereum Price Faces Another Rejection: Will Momentum Return?

Ethereum price started a downside correction from the $3,500 resistance level, failing to gain pace for a close above this threshold. The price is currently trading below $3,320 and the 100-hourly Simple Moving Average, with a short-term connecting bearish trend line forming with resistance at $3,380 on the hourly chart of ETH/USD. Despite a move above the $3,320 level, upsides were limited compared to Bitcoin, leading to a correction below the $3,320 and $3,300 support levels. A low was formed at $3,141, and the price is now consolidating. The pair could start another increase if it clears the $3,300 resistance level.

Coinbase’s Base Plans for 25 Million Users and $100 Billion in Assets by 2025

Base, the Coinbase-incubated Ethereum Layer 2 network, has announced an ambitious roadmap for 2025. The network aims to onboard 25 million users and 25,000 developers, significantly expanding its community and technical contributions. Base also plans to scale its blockspace capacity to 250 Mgas/s to enable faster and more efficient transactions, while targeting $100 billion in total assets on the platform. The strategy includes empowering developers with open tools like OnchainKit and support for AI-driven apps to streamline app development and adoption.

Ethereum Forms A Bullish Continuation Pattern, An Upsurge To New Heights Ahead?

Amidst a strong resurgence of the general crypto market, Ethereum has gained traction as evidenced by a rebound from the $2,900 threshold. Recording an over 10% upswing in the last few days, ETH continues to maintain its position as a leading crypto asset capable of witnessing significant growth in the ongoing bull cycle. Ethereum’s price action shows that the digital asset could be poised for an extension of its recent upward movement. Delving into ETH’s recent performance, ROSE Premium Signals, a technical analysis platform cites an optimistic chart pattern that might bolster the altcoin to higher levels. Rose Premium Signals highlights the development as a sign of strong upside momentum, targeting new heights in the short term. This robust price strength might indicate a bullish continuation pattern, suggesting potential for further gains.

Donald Trump’s World Liberty Financial Buys Ethereum Domain Names

World Liberty Financial, associated with Donald Trump, has acquired four new Ethereum Name Service (ENS) domain names in the last 24 hours. The domains purchased include worldliberty.eth, trumpcoin.eth, erictrump.eth, and barrontrump.eth. These acquisitions were made through a multi-signature address, as reported by sources on X, including the Kobeissi Letter. Transaction data from Etherscan shows that the domains were transferred to WLF’s multisig wallet via bulk delivery, a feature not available for direct registrations. Additionally, World Liberty Financial has made significant Ethereum purchases, adding 14,403 ETH to its reserves.