The Ethereum price has started a recovery wave and has successfully cleared several resistance levels. It is currently consolidating its gains after reaching a high of $3,473. The price is trading above $3,300 and the 100-hourly Simple Moving Average. However, it is facing hurdles near the $3,450 level and the main resistance is forming near $3,500. If the price breaks above $3,500, it could lead to further gains towards the $3,550 and $3,650 resistance levels. On the other hand, if it fails to clear the $3,480 resistance, it might start another decline. The initial support level is around $3,350 and the major support is near $3,280.



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