TA: Ethereum Rallies Above $3,200 But This Resistance Is The Key

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	397,370,255,045	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

397,370,255,045

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	54.78	1.68%	3,306.89	3,307.05	3,307.06

Price Change

Price Change %

Current Price

Bid Price

Offer

54.78

1.68%

3,306.89

3,307.05

3,307.06

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,336.42	3,239.72	3,254.47	3,252.11	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,336.42

3,239.72

3,254.47

3,252.11

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:00:17	0.602880	3,306.89	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:00:17

0.602880

3,306.89

USD

Price x Volume	Volume	Base Symbol	Related Pairs
101,635,649.57	30,823.70	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

101,635,649.57

30,823.70

TA: Ethereum Rallies Above $3,200 But This Resistance Is The Key

12/01/2022 5:18am

NEWSBTC

Ethereum started an upside correction above the $3,180 zone against the US Dollar. ETH price must clear the $3,250 to continue higher in the near term. Ethereum started a decent increase above the $3,200 resistance zone. The price is trading above $3,200 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $3,190 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear break above the $3,250 resistance zone. Ethereum Price Aims Upside Break Ethereum started a decent increase above the $3,150 resistance zone. ETH even broke the $3,200 resistance zone and the 100 hourly simple moving average to move into a positive zone. The upward move gained pace, but the bears appeared near the $3,250 level. A high was formed near $3,264 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent increase from the $2,931 swing low to $3,264 high. Besides, there is a key bullish trend line forming with support near $3,190 on the hourly chart of ETH/USD. Bitcoin price is trading above $3,200 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the $3,250 level. A clear move above the $3,250 level might start a major increase in the near term. The next major resistance is near the $3,330 level, above which ether price could test $3,400. Any more gains could send the price towards the $3,550 level in the near term. Fresh Decline in ETH? If ethereum fails to start a fresh increase above the $3,250 level, it could start another decline. An initial support on the downside is near the $3,200 level. The first key support is now forming near the $3,190 level and the trend line. A downside break below the $3,190 level might spark a fresh decline. In the stated case, the price could test the $3,100 support zone. It is near the 50% Fib retracement level of the recent increase from the $2,931 swing low to $3,264 high. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $3,190 Major Resistance Level – $3,250

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ETHUSD Ethereum