The Ethereum price has experienced a fresh increase, following a similar trend to Bitcoin. It managed to surpass several resistance levels, including $3,220 and $3,320, and reached a new monthly high at $3,445 before a slight pullback. Ethereum is now consolidating above $3,120 and the 100-hourly Simple Moving Average. However, it faces hurdles at the $3,230 level and a bearish trend line is forming at $3,240. The main resistance is near $3,320 and a clear break above this level could push the price towards $3,450. On the downside, if Ethereum fails to clear the $3,250 resistance, it may initiate a downside correction with initial support at $3,150 and major support at $3,120. The technical indicators show the MACD losing momentum in the bullish zone and the RSI below the 50 zone.



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