Ethereum Price Surpasses $3,240 Amid Ongoing Recovery Efforts
Ethereum Price Update
- Ethereum has started a recovery wave above the $3,240 level.
- The price is trading above $3,320 and the 100-hourly Simple Moving Average.
- A break occurred above a short-term contracting triangle with resistance at $3,240.
- Current resistance levels are near $3,450 and $3,480; a move above $3,500 may lead to further gains.
- Recent high reached $3,473, now consolidating around $3,300.
- Initial support is at $3,350; major support at $3,280 and $3,240.
- If the price drops below $3,280, it could decline towards $3,120 or $3,050.
Technical Indicators
- MACD indicates losing momentum in the bullish zone.
- RSI is above the 50 zone.
