Ethereum Price Holds Firm at $3,250: Potential Upside Ahead

Ethereum’s price has been holding strong at $3,250, leaving many wondering if there’s an upside ahead. The good news is that Ethereum has started a fresh increase from the $3,250 support zone. It’s currently trading above $3,350 and the 100-hourly Simple Moving Average, signaling a positive trend.

On the hourly chart of ETH/USD, we saw a break above a connecting bearish trend line with resistance at $3,320. This could indicate a potential move above the $3,400 resistance zone, setting the stage for more bullish momentum.

Ethereum has remained stable above $3,200, and with a recent move above the $3,300 and $3,350 resistance levels, it seems poised for more gains. The price is currently facing hurdles near the $3,400 level, with the next major resistance forming near $3,500. A breakthrough above $3,500 could propel the price toward $3,550 or even higher levels in the future.

However, if Ethereum fails to clear the $3,400 resistance, there might be a downside risk. The initial support on the downside is near $3,300, followed by major support at the $3,250 zone. A clear move below $3,250 could lead to a downward trend towards $3,150 and potentially $3,050 in the near term.

As for technical indicators, the hourly MACD for ETH/USD is gaining momentum in the bullish zone, indicating a positive outlook for Ethereum’s price. Keep an eye on these key levels and indicators to gauge Ethereum’s performance in the coming days.