The Ethereum price is currently consolidating above the $3,220 and $3,200 support levels after struggling to increase above $3,500. There was a break above the $3,250 level and a connecting bearish trend line with resistance at $3,300. However, the price is still trading below $3,450 and the 100-hourly Simple Moving Average. The main resistance is forming near $3,550, and a clear move above this level could lead to further gains towards the $3,650 and $3,720 resistance levels. On the downside, initial support is at $3,300, followed by the $3,220 and $3,120 levels. The next key support is at $3,000. The MACD indicator is showing bearish momentum, while the RSI is now above 50.
- Content Editor ( newsbtc.com )
- 2024-12-24
Ethereum Price Attempts a Comeback: Is a Rebound Imminent?