In terms of the US dollar, Ethereum is rising above $3,250. The price of ETH is currently in the green and may rise above $3,250. ETHEREUM gradually i
In terms of the US dollar, Ethereum is rising above $3,250. The price of ETH is currently in the green and may rise above $3,250. ETHEREUM gradually increases and shows signs of life above the $3,187 support level.
The price has risen above $3,250 and the 100 hourly simple moving average. On the hourly timeframe of ETH/USD, a major bullish trend line is forming with support near $3,150. The pair is settling near $3,250 and may extend its rally in the near term.
Ethereum Price Sees More Gains
Ethereum is still trading well above the $3,250 support level. ETH began another rise and broke through the $3,350 resistance. In addition, there was a clear move above the $3,180 level, and the price settled above the 100 hourly simple moving average. It reached a new multi-week high of $3,320 and is trending upward. It is trading above the 23.6 percent Fib retracement level of the upward move from the swing low of $3,006 to the high of $3,147.
ETH/USD
On the hourly chart of ETH/USD, a major bullish trend line is forming with support near $3,050. On the upside, an initial resistance level is near $3,350. Further on the higher side, the next significant resistance is located near $3,388. Ether price could begin another surge if there is a clear move above the $3,388 resistance. In the scenario above, the price could rise to $3,450. Any additional gains may necessitate moving towards the $3,490 resistance zone in the coming sessions.
Dips in ETH Are Limited?
If Ethereum continues to fail to start a new uptrend above $3,388, it may begin a downward trend. On the downside, an initial support level is near $3,210. The next significant support is around $3,170. It is close to the 50% Fib retracement level and an upwards move from the swing low of $3,006 to the high of $3,147.
The trend line and the $3,050 zone provide the main support. A break below the $3,050 support level could push the price even lower. In the scenario above, the price could fall to $3,000.
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