Ethereum price started a positive movement above the $3,120 resistance, indicating growth but still lagging behind Bitcoin's momentum. It crossed the $3,000 and $3,120 resistance levels, moving into a positive zone.
The price surged over 5% past $3,250, testing $3,390 before a minor pullback. It's currently quite stable above $3,220 and the 100-hourly SMA.
A bullish trend line supports it at $3,230. On the upside, hurdles exist at the $3,350 resistance level, with major resistance forming near $3,420. A clear movement above these levels could push Ethereum towards $3,550, potentially reaching the $3,680 zone.
In case Ethereum fails to surpass $3,350 resistance, it faces downside corrections, with initial support near the $3,280 level and major support at $3,250. Any losses beyond these might push the price to $3,080 or $3,000 support levels.
Technical indicators, like the hourly MACD and RSI, suggest bullish momentum with RSI being above the 50 zone, indicating Ethereum's continuation in a positive trend.
