The price of Ethereum is displaying optimistic signals above the $3,550 area. For Ethereum to continue its upward trend, it must surpass the $3,680 resistance level.

Recently, Ethereum embarked on another rise above the $3,550 resistance. It is currently trading above $3,550 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD, a significant bullish trend line is forming with support at $3,590. If Ethereum manages to settle above the $3,680 resistance, the price might continue to climb higher.

Ethereum's price surge began above the $3,500 resistance, with ETH bulls successfully propelling the price above the $3,580 mark. The price climbed above $3,650 before a slight downturn took it below $3,600. Despite this minor setback, Ethereum is now trading above $3,580 and the 100-hourly Simple Moving Average. The immediate resistance is at around $3,640, while the major hurdles lie at $3,680 and $3,720 levels. Clearing these resistances could fuel Ethereum's rally towards $3,800 and even $3,880. Further gains might test the $4,000 level.

If Ethereum struggles to breach the $3,640 resistance, a downward trend may ensue. Initial support lies at $3,590, with the first major support at $3,550. Further support levels are projected at $3,500 and $3,390. A significant drop could even direct the price towards $3,250.

Analyzing the technical indicators, the MACD for ETH/USD is showing a loss of momentum in the bullish zone. On the other hand, the RSI is above the 50 level. The major support level is at $3,590, while the primary resistance level stands at $3,680.