Ethereum Price Consolidates Above $3,180, Faces Resistance at $3,350

Ethereum Price Analysis

Ethereum is consolidating above the $3,180 support level.
The price is trading above $3,250 and the 100-hourly Simple Moving Average.
A break occurred above a bearish trend line at $3,280.
ETH needs to clear the $3,350 resistance to initiate a new upward trend.

Recent Performance

ETH started an upward move from $3,180, surpassing resistance levels at $3,220 and $3,250. It reached a high of $3,346 before retracing below $3,320 and $3,300.

Current resistance levels:

$3,350 with major resistance at $3,370
Main resistance near $3,450

A break above $3,450 could lead to gains towards $3,500, $3,550, or even $3,580.

Potential Decline

If ETH fails to breach $3,350, it may decline, with support levels at:

Initial support near $3,260
Major support at $3,220
Next key support at $3,180 and $3,120

Technical Indicators

MACD indicates bullish momentum
RSI is above the 50 mark
Major Support Level: $3,250
Major Resistance Level: $3,350

Ethereum Price