Ethereum Price Tests $3,250 Resistance Amid Bullish Momentum

Ethereum (ETH) is experiencing a price increase above $3,120 and is currently testing the $3,250 resistance level. Key points include:

  • ETH price is trading above $3,150 and the 100-hourly Simple Moving Average.
  • A bullish trend line has formed with support at $3,120.
  • If ETH breaks the $3,250 resistance, it could rise towards $3,320 and potentially $3,450.

Ethereum Price

If Ethereum fails to clear $3,250, a decline might occur:

  • Initial support levels are at $3,160 and $3,120.
  • A break below $3,120 could push the price toward $3,050 or even $2,980.

Technical indicators suggest:

  • The MACD for ETH/USD is gaining momentum in the bullish zone.
  • The RSI for ETH/USD is above the 50 zone.

Major Support Level: $3,120
Major Resistance Level: $3,250