Ethereum's price has embarked on a recovery journey, moving above the $3,240 mark and showing strength with a rise over 5%. Currently trading above $3,320, ETH is encountering resistance near $3,480. The upward trend is supported by the 100-hourly Simple Moving Average, suggesting potential for further gains.
Detailed chart analysis indicates a break above a short-term contracting triangle, contributing to the price rise. However, hurdles around the $3,480 and $3,500 resistance levels persist. Clearing these could pave the way for Ethereum to target higher resistance zones at $3,550 and potentially $3,720.
If Ethereum fails to break the $3,480 resistance, a downside correction might be on the cards, with initial support at $3,350, and major support forming around $3,280. Key indicators, such as the MACD and RSI, point towards slowing bullish momentum, yet remain in favorable zones.
Nguồn: www.newsbtc.com ↗