Ethereum Price Inches Higher, Building Pressure for a Follow-Through
Ethereum price failed to clear the $3,220 resistance and dipped. ETH is now attempting to recover and faces an uphill task near the $3,150 level. A clear move above the $3,210 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 $3,080 level. The first major support sits near the $3,050 zone. A clear move below the $3,050 support might push the price toward the $3,020 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 below the 50 zone. Major Support Level – $3,050 Major Resistance Level – $3,180Another Decline In ETH?
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