Ethereum Price Upside Story Isn’t Finished Yet, Charts Suggest

Ethereum has seen a steady upward price movement, surpassing the $3,200 mark. It is now consolidating its gains and might aim for further increases above $3,300. The cryptocurrency's price has risen above $3,150 and $3,200, trading above $3,220 and its 100-hourly Simple Moving Average. A crucial bullish trend line is forming with support at $3,200 on its hourly chart. Clearing the $3,265 zone could propel the price higher. Ethereum has consolidated after reaching a high of $3,299, testing the 50% Fibonacci retracement level. Sustaining above $3,200 and its supporting trend line is key for potential further gains. Immediate resistance lies at $3,265, followed by $3,280 and $3,300. A decisive break above $3,300 could lead to $3,350 and potentially $3,450 or $3,500. However, failure to overcome $3,265 might trigger a decline, with initial support at $3,220 and major support at $3,200. Below $3,200, prices could drop towards $3,120 and possibly $3,050.