Ethereum price has initiated a recovery wave above $3,250, with potential to surpass $3,480. The cryptocurrency is trading above $3,300 and the 100-hourly Simple Moving Average. Recent movements have seen Ethereum clear significant resistance levels, moving it into a short-term positive zone.
Having tested the $3,480 zone, Ethereum saw a minor correction but now trades above $3,280. On the upside, resistance is anticipated near $3,400, $3,420, and $3,480. Surpassing these could propel the price towards $3,550 and possibly $3,720.
If Ethereum fails to clear $3,400, a decline could occur, with support at $3,280 and $3,200. A break below $3,200 may push the price lower towards $3,000. Technical indicators currently display bullish momentum abroad the $3,300 mark.
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