Ethereum price has witnessed a significant increase, breaking the $3,000 resistance and advancing towards the $3,250 barrier. If Ethereum surpasses this resistance, it could further climb towards the $3,300 and eventually the $3,500 mark.
A bullish trend line is forming, providing support at $3,120. While the price shows strengths, any failure to clear the $3,250 resistance could lead to a downside correction, with supports at $3,150, $3,120, and $3,000.
Technical indicators highlight the current bullish momentum, with the hourly MACD gaining strength and the RSI above the 50 mark. The major support and resistance levels are at $3,120 and $3,250, respectively.
