#Ethereum had a good uptrend and managed to cross the $ 3,000 resistance. Now, with the $ 3,200 resistance behind, It will be able to grow even more.
ETH started a solid uptrend after forming a support base above $ 2,650. It continued to move above the $ 2,800 resistance.
In the hourly chart, the ETH / USD pair also outperformed the bearish trend line in the range of $ 2,950. #ETH is now past the 76.4% #Fibonacci retracement level, which fell from $ 3,105 to $ 2,651.
At this point, ETH is trading above $ 3,000 and within the 100-hour moving average. The nearest resistance level upstream is around $ 3,135.
The first significant resistance is also in the $ 3,200 range; Where the level of 1.236 Fibonacci extensions is seen.
A $ 3,200 rally above the $ 3,200 resistance will probably push the price higher. The next strong resistance is likely to appear in the $ 3,400 range; Where the level of 1,618 Fibonacci extensions is seen. Of course, around $ 3,320 is expected before facing it.
If the Ethereum fails to climb above the $ 3,200 resistance, a bearish correction is likely to resume.
In this case, the nearest downstream support level is around $ 3,050.
The next significant support seems to be forming in the $ 3,000 range. #ETH will sink to the bottom of $ 2,800 when it collapses. In this case, the main support is around $ 2,650. Its collapse will lead to a sharp drop to the $ 2,500 range.
ETH started a solid uptrend after forming a support base above $ 2,650. It continued to move above the $ 2,800 resistance.
In the hourly chart, the ETH / USD pair also outperformed the bearish trend line in the range of $ 2,950. #ETH is now past the 76.4% #Fibonacci retracement level, which fell from $ 3,105 to $ 2,651.
At this point, ETH is trading above $ 3,000 and within the 100-hour moving average. The nearest resistance level upstream is around $ 3,135.
The first significant resistance is also in the $ 3,200 range; Where the level of 1.236 Fibonacci extensions is seen.
A $ 3,200 rally above the $ 3,200 resistance will probably push the price higher. The next strong resistance is likely to appear in the $ 3,400 range; Where the level of 1,618 Fibonacci extensions is seen. Of course, around $ 3,320 is expected before facing it.
If the Ethereum fails to climb above the $ 3,200 resistance, a bearish correction is likely to resume.
In this case, the nearest downstream support level is around $ 3,050.
The next significant support seems to be forming in the $ 3,000 range. #ETH will sink to the bottom of $ 2,800 when it collapses. In this case, the main support is around $ 2,650. Its collapse will lead to a sharp drop to the $ 2,500 range.