Ethereum Price Surges Above $3,200, Targets Higher Resistance Levels

Ethereum's price is on an upward trajectory, surpassing $3,050 and consolidating gains. It is positioned for potential further increases beyond $3,200.

Recently moved above $3,000 and $3,050.
Trading above $3,100 and the 100-hourly Simple Moving Average.
A bullish trend line supports it at $3,120 on the hourly ETH/USD chart.
Potential continuation if it surpasses the $3,200 resistance zone.

Price Analysis

Ethereum reached a high of $3,218 before stabilizing. It dipped slightly below the 23.6% Fib retracement level from $3,116 to $3,218 but remains above critical support levels.

Ethereum Price

If the price breaks above $3,250, it could target $3,350, with further gains possibly reaching $3,450 or $3,500.

Potential Decline

If Ethereum fails to break the $3,220 resistance, it might decline:

Initial support is around $3,165.
Main support at $3,120; breaking this could lead to $3,050 or $3,000.

Technical Indicators

MACD: Bullish momentum increasing.
RSI: Above 50, indicating strength.

Key Levels

Support: $3,120
Resistance: $3,220