13 hour ago
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Ethereum Price Targets $3,250 After Recent Surge
Ethereum's price has increased above $3,200, consolidating gains and potentially aiming for further increases above $3,250.
- ETH began rising above the $3,050 and $3,120 levels, now trading above $3,120 and the 100-hourly Simple Moving Average.
- A short-term contracting triangle is forming with support at $3,130 on the hourly ETH/USD chart.
- The pair could continue to rise if it settles above the $3,240 zone.
Potential Upside
- Ethereum price maintained above $2,920 and increased past $3,000 and $3,050 resistance.
- Bulls pushed the price above $3,150 but struggled near $3,240 and $3,250.
- If an upward move occurs, resistance may be faced near $3,200, with key resistances at $3,240 and $3,250.
- A clear move above $3,250 might push the price towards $3,320, possibly reaching $3,450 or even $3,500 soon.
Possible Downside
- If Ethereum fails to clear the $3,240 resistance, a decline could start. Initial support lies near $3,120, with major support around $3,050.
- A move below $3,050 could push the price toward $3,000, with further losses potentially leading to the $2,980 region.
- Additional support is located at $2,850 and $2,840.
Technical Indicators
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above the 50 zone.
- Major Support Level: $3,130
- Major Resistance Level: $3,240