Ethereum Price Faces Resistance Below $3,320 After Minor Recovery
Ethereum (ETH) is experiencing a minor recovery wave, currently trading above $3,200 but facing resistance below $3,320.
- Recovery started from the $3,160 level.
- Price remains below $3,320 and the 100-hourly Simple Moving Average.
- A bullish trend line is forming with support at $3,250.
- Struggles to exceed the $3,320 resistance may persist.
Resistance Levels
ETH cleared some resistance levels, including $3,200 and $3,220, recovering partially from a drop from a high of $3,743. Key resistance points are:
- $3,320 – first major resistance
- $3,450 – main resistance level
- $3,500 – potential target if $3,450 is breached
- Further upside could reach $3,650 or $3,720 if breaking above $3,520.
Potential Decline
If ETH fails to surpass $3,320, it may decline further. Support levels include:
- $3,250 – initial support
- $3,220 – first major support
- $3,160 – potential target if $3,220 is breached
- $3,050 and $3,000 – additional support levels.
Technical indicators show bearish momentum: MACD in the bearish zone and RSI below 50.