Ethereum's price is on the rebound, recovering past losses as it surpasses the $3,350 resistance mark. Now trading above $3,450, ETH needs to break through the $3,550 barrier to ignite a stronger rally. A bullish trend line indicates support at $3,455 on the hourly chart.
The resistance around $3,525 and $3,550 is key, with potential gains pushing towards $3,620. Failing to clear these levels may result in another downfall. Ethereum faces initial support near $3,455 and stronger backing at $3,375. A drop below these could lead towards $3,250 or even $3,220 in the short term.
Technical indicators show the hourly MACD is losing momentum while RSI is below 50, signaling possible reluctance for market bulls. Attention remains on major support at $3,425 and resistance at $3,550.
