Ethereum Attempts to Break $3,250 Resistance Level
- Ethereum price surged above the $3,120 mark and is trading above $3,150.
- The current price is supported by a bullish trend line at $3,120 on the hourly chart.
- Key resistance levels are identified at $3,250 and further at $3,320.
- A successful break above $3,320 could propel the price towards the $3,450 resistance zone.
- If unable to clear the $3,250 resistance, ETH might decline with initial support at $3,160.
Ethereum’s recent upward movement has positioned it above significant support levels as it tests key resistances around $3,250 and beyond. The potential for further gains remains if these barriers are surpassed.
The Ethereum price is currently consolidating above its simple moving average of $3,150 and could see more gains if it breaks through major resistance levels like $3,320 and potentially reaches up to the $3,450 mark in the near term.( Source)
