The price of Ethereum consolidates above support at USD 3180. ETH must tidy the resistance zone at the level of $ 3350 to start a modern growth in the near future.

• Ethereum has started a modern augment from the support zone at the level of $ 3180.
• The price exceeds $ 3,250 and a 100-hour straight movable average.
• There was a beaten above the key line of the bear trend with a resistance of $ 3280 on the ETH/USD hour chart (data via Kraken).
• The couple can start another augment if the support level of $ 3220 is maintained above.

The price of Etherum breaks the resistance

The price of Ethereum started a decent up move from $ 3180, beating Bitcoin. ETH was able to exceed the resistance levels $ 3220 and $ 3,250.

There was a bearing above the key line of the bear trend with a resistance of $ 3280 on the ETH/USD hour chart. The couple even exceeded $ 3300 and tested $ 3350. The highest level was created at the level of $ 3346, and the price is currently dropping. There was a movement below support levels of USD 3320 and USD 3300.

The price has dropped below the level of lifting FIB of 23.6%, which is the effect of movement up from the lowest level of $ 1,381 to the highest level of USD 3346. The price of Ethereum is currently listed above $ 3,250 and a 100-hour straight-steep average.

On the other hand, the price seems to face obstacles near the level of $ 3350. The first sedate resistance is located near the level of $ 3370. The main resistance is currently created near $ 3,450.

A clear movement above the resistance at $ 3,450 can direct the price towards the resistance at $ 3500. Puncting up above the resistance of $ 3500 can cause further increases in the upcoming sessions. In the given case, Ether may augment in the near future towards the resistance zone of $ 3550 or even $ 3580.

Another decrease in ETH?

If Ethereum does not overcome the resistance at the level of $ 3350, another decrease may begin. Initial support is located near the level of $ 3,260. The first main support is located near $ 3220.

A clear traffic below the support of $ 3220 can push the price towards support of $ 3180. Any further losses may in the near future direct the price towards the level of support at USD 3120. Another key support is at the level of $ 3050.

Technical indicators

Hourly MacD – MacD for ETH/USD is gaining momentum in the augment zone.

Hourly RSI – RSI for ETH/USD is currently above zone 50.

Main level of support – USD 3,250

Main level of resistance – $ 3350