Ethereum News Today: Ethereum Surges 8.6% to $3,642.23 as Buying Pressure Intensifies

Ethereum (ETH) has surged by 8.6% in the past 24 hours, reaching a price of $3,642.23. This significant increase has brought the cryptocurrency close to its short-term resistance level of $3,643.84. The rally follows a recovery from the $2,902.80 level, which was recorded just a few days prior. The highest price observed during this period was $3,628.99, while the lowest was $3,337.09. The volatility in the market has intensified, with trading activity increasing on major platforms.

Technical indicators support the price rally. The Relative Strength Index (RSI) on the 1-hour chart closed at 74.46, indicating strong buying pressure as it remains above 70 for successive sessions. The Moving Average Convergence Divergence (MACD) also shows high bullish pressure, with the MACD line at 13.92 and the signal line at 61.93. The histogram crossing above the zero line further confirms the upward momentum.

The 4-hour chart on major exchanges shows consistent green candles leading up to the $3,628.99 high. This move has placed Ethereum above the previous resistance level of $3,505.54, bringing it closer to the next barrier at $3,643.84. This performance reflects renewed market interest in the broader crypto trading activity observed this week.

Ethereum’s current support level is at $3,353.56, which has held firm despite increased price fluctuations. Over the last 24 hours, ETH has maintained higher lows throughout multiple sessions. On-chain volume data showed ETH/USDT activity reaching 34.05 billion in USDT, with 9.83 million ETH in exchange volume. The upward shift followed a sustained accumulation pattern since July 13, where ETH reversed sharply from $2,902.80. Since then, the price has held above successive resistance lines and turned into support.

High volatility has accompanied Ethereum’s move to the current range. Volume surges mirrored the price action, particularly during strong hourly candles. Buy-side pressure intensified, with a visible spike in momentum. This pattern supported the rally toward $3,646.33, the current bid on major platforms. MACD and RSI alignment remained favorable for bulls throughout the observed period. However, to sustain this short-term structure, control must be maintained at critical limits. Trading is still in progress at Ethereum price range of $3337 to 3643 with uncertainty likely to continue in the upcoming sessions.