Ethereum Price Surges Above Key Resistance Levels
- Ethereum price increased significantly, breaking above the $3,160 and $3,200 resistance levels.
- ETH/USD broke a major bearish trend line with resistance at $3,140 on the hourly chart.
- The price reached a high of $3,374 and is now trading above $3,300 and the 100-hourly Simple Moving Average.
- Immediate resistance is near $3,340 with further key resistances at $3,380 and $3,420.
- Major support levels are identified at $3,300 and the critical zone of $3,250.
Ethereum’s recent rally has seen it break significant resistance levels as it consolidates gains above the crucial $3,300 mark. The bulls aim to maintain momentum by defending these support zones to potentially push prices higher in the short term.
With Ethereum trading above key averages and resistances being tested around $3,340 to $3,420 levels, further upward movement could be anticipated if these barriers are surpassed. Source
