Ethereum Price Upside Story Isn’t Finished Yet, Charts Suggest
Ethereum price started a steady upward move above $3,200. ETH is now consolidating gains and might aim for more gains above $3,300. A clear move above the $3,300 resistance might send the price toward the $3,350 resistance. An upside break above the $3,350 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,450 resistance zone or even $3,500 in the near term. If Ethereum fails to clear the $3,265 resistance, it could start a fresh decline. Initial support on the downside is near the $3,220 level or the 61.8% Fib retracement level of the recent increase from the $3,181 swing low to the $3,299 high. The first major support sits near the $3,200 zone and the trend line. A clear move below the $3,200 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 region. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,200 Major Resistance Level – $3,265Downside Correction In ETH?
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