Ethereum Price Builds Momentum, But Follow-Through Is the Real Test
Ethereum price failed to clear the $3,200 resistance and dipped. ETH is now attempting to recover and faces an uphill task near the $3,180 level. A clear move above the $3,20 resistance might send the price toward the $3,250 resistance. An upside break above the $3,250 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,300 resistance zone or even $3,320 in the near term. If Ethereum fails to clear the $3,180 resistance, it could start a fresh decline. Initial support on the downside is near the $3,110 level. The first major support sits near the $3,080 zone. A clear move below the $3,080 support might push the price toward the $3,050 support. Any more losses might send the price toward the $3,000 region. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,080 Major Resistance Level – $3,180Another Drop In ETH?
About Author
