Ethereum Price Surpasses $3,220, Eyes Resistance at $3,270
Ethereum Price Update
- Ethereum has increased above $3,220 and is consolidating.
- Current trading price is above $3,200 and the 100-hourly Simple Moving Average.
- A key bearish trend line was broken at $3,200 on the ETH/USD hourly chart.
- If ETH remains above $3,200, it may continue to rise.
Price Movements
- ETH increased from $3,020, surpassing $3,120 and $3,150 resistance levels.
- The price broke above the 50% Fib retracement from $3,427 to $3,020.
- Resistance levels are present at $3,270 and $3,280.
- Major resistance is at $3,330 and forming near $3,360.
- An upside break above $3,450 could lead to further gains toward $3,550 or $3,650.
Potential Decline
- If ETH does not clear $3,270, it may decline.
- Initial support is at $3,220, with major support at $3,200.
- A drop below $3,200 could push the price toward $3,120 and further to $3,050, with key support at $3,000.
Technical Indicators
- MACD shows bullish momentum for ETH/USD.
- RSI is above the 50 zone.
Major Support Level: $3,200
Major Resistance Level: $3,270