TL;DR Breakdown Ethereum price analysis suggests upwards movement with gentle slope as market turns bullishThe closest support level lies at $3,200ETH faces resistance at the $3,450 mark. The Ethereum price analysis shows that the price action found a strong support level at the $3200 mark as ETH bounced swiftly to the $3400 mark. However, the price action still struggles to climb above the $3,450 mark as the selling pressure remains high at the level. The broader cryptocurrency market has observed a bullish sentiment over the last 24-hours as most major cryptocurrencies record a positive change over the period. Major players include Filecoin (FIL) and Binance Coin (BNB) that record a 8.59 and an 6.58 percent incline, respectively. Ethereum price analysis: Bulls resting before continuing the rally Technical indicators for ETH/USDT by Tradingview Across the technical indicators, the MACD is bullish, as expressed by the green histogram. The indicator exhibited a crossover on September 13 and has been bullish since. While the momentum increased in the first 24 hours after the crossover, the resistance at the $3400 mark caused the price action to stagnate, and the momentum dwindled. The EMAs are currently moving upwards, showing strong buyer activity at press time. However, the 26-EMA moves with a similar gradient suggesting an increasing selling pressure in recent hours. The RSI is currently neutral...
