Ethereum has started to recover from a low of $3,160, climbing above the $3,200 range. However, it is currently facing resistance at the $3,320 level. A bullish trend is observed with support forming around $3,250, as seen on the hourly chart.
If Ethereum can surpass its key resistance levels at $3,320 and $3,450, it could potentially reach $3,500. Technical indicators point to bearish momentum, making it a challenging path upward.
The article originally appeared on Blockonomi and provides an analysis of Ethereum's price movements and future potential.