Ethereum price has risen above the $3,220 resistance and is now facing hurdles near the $3,450 level. It recently climbed above $3,120, moving into a positive zone, reaching a monthly high of $3,443. However, a minor pullback occurred, with the price moving below the 23.6% Fib retracement level.
The current trading price is above $3,150 and held by the 100-hourly Simple Moving Average. There's a bullish trend line with support at $3,220, close to the 50% Fib retracement level from $3,070 to $3,443.
On the upside, the major resistance areas to watch are $3,320, followed by $3,400, and the main at $3,450. Breaking through $3,450 could see a push toward $3,580 and possibly $3,650.
If Ethereum struggles to surpass $3,320, it may face a downside correction. Initial support lies at $3,250 and $3,150. A move below $3,150 could target $3,070 and further downward to $3,000 or $2,880.
Technical indicators show that the MACD for ETH/USD is losing momentum in the bullish zone, and the RSI is below the 50 mark. Major support is at $3,250, while major resistance is identified at $3,320.
