BTCUSD Bitcoin

Ethereum price remained supported above the $3,220 zone. ETH is consolidating and might aim for a move above the $3,400 resistance. Ethereum started a fresh increase from the $3,250 support zone. The price is trading above $3,350 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $3,400 resistance zone. Ethereum Price Remains Stable and Eyes More Upsides Ethereum price remained supported above $3,200 and started a fresh increase while Bitcoin corrected gains. ETH is stable above $3,250 and is currently rising. There was a move above the $3,300 and $3,350 resistance levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $3,545 swing high to the $3,254 low. There was also a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,350 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,400 level. It is close to the 50% Fib retracement level of the downward move from the $3,545 swing high to the $3,254 low. The first major resistance is near the $3,450 level. The main resistance is now forming near $3,500. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,680 resistance zone or even $3,750. Downsides Limited In ETH? If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone. A clear move below the $3,250 support might push the price toward $3,150. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. 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 – $3,250 Major Resistance Level – $3,400