Ethereum gained strength above $3,200 and $3,350 against the US Dollar. ETH price could start a fresh rally if it clears $3,450 and $3,500. Ethereum started a steady increase after it settled above the $3,200 level. The price is now trading above $3,300 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could might remain supported near the $3,300 and $3,250 levels. Ethereum Price Stuck Below Resistance Ethereum formed a base above the $3,000 level and started a fresh increase. ETH broke the $3,150 and $3,200 resistance levels to move into a positive zone. There was also a close above the $3,300 level and the 100 hourly simple moving average. The price traded as high as $3,489 and recently corrected lower, similar to bitcoin. Ether declined below the $3,400 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $2,970 swing low to $3,489 high. There was a break below a key bullish trend line with support near $3,400 on the hourly chart of ETH/USD. It is now trading above the $3,320 support level. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $3,400 level. The first major resistance is near the $3,420 level. A break above the $3,420 level could start a steady increase. The next main resistance is near the $3,500 zone, ab...
