Ethereum (ETH) Gearing For Another Lift-Off, 100 SMA Is The Key

Ethereum

Ethereum started a fresh increase above the $3,000 resistance against the US Dollar. ETH price is now consolidating gains and it could surge further above $3,200.

Ethereum found support near $2,900 and it started a fresh increase.
The price is now trading above $3,000 and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $2,980 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to resume its rally once it clears the $3,200 and $3,300 resistance levels.

Ethereum Price Eyes More Upsides
Ethereum started a minor downside correction below the $3,000 support. However, ETH price remained well bid near the $2,900 level and the 100 hourly simple moving average.
A low was formed near $2,891 and the price started a fresh increase, similar to bitcoin. Ether was able to climb back above the $3,000 and $3,050 resistance levels. There was a break above a key bearish trend line with resistance near $2,980 on the hourly chart of ETH/USD.
The pair even cleared the $3,150 level, but it is again struggling to clear the $3,200 resistance zone. A high is formed near $3,191 and the price is now consolidating gains. There was a break below the 23.6% Fib retracement level of the recent wave from the $2,891 swing low to $3,191 high.
Ether tested the $3,050 support, where the bulls appeared. The 50% Fib retracement level of the recent wave from the $2,891 swing low to $3,191 high is also near $3,050. On the upside, an immediate resistance is near the $3,150 level. The next key resistance is near the $3,200 level.

Source: ETHUSD on TradingView.com
A clear break and close above the $3,180 and $3,200 resistance levels might start another increase. In the stated case, the price could rally above $3,300. The next stop for the bulls may possibly be near the $3,480 level.
Dips Supported in ETH?
If ethereum fails to continue higher above the $3,180 and $3,200 resistance levels, it could start a fresh downside correction. An immediate support on the downside is near the $3,080 level.
The next major support is near the $3,040 level. The main support is now forming near $3,000 and the 100 hourly SMA. Any more losses could lead the price towards the $2,880 support zone.
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 now above the 50 level.
Major Support Level – $3,040
Major Resistance Level – $3,200

bitcoin
Bitcoin (BTC) $ 64,262.22
ethereum
Ethereum (ETH) $ 3,483.52
tether
Tether (USDT) $ 0.999829
bnb
BNB (BNB) $ 585.93
solana
Solana (SOL) $ 133.86
staked-ether
Lido Staked Ether (STETH) $ 3,483.89
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.484241
dogecoin
Dogecoin (DOGE) $ 0.123470
the-open-network
Toncoin (TON) $ 7.20
cardano
Cardano (ADA) $ 0.374805
shiba-inu
Shiba Inu (SHIB) $ 0.000018
tron
TRON (TRX) $ 0.119108
avalanche-2
Avalanche (AVAX) $ 25.22
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 64,222.21
chainlink
Chainlink (LINK) $ 13.65
polkadot
Polkadot (DOT) $ 5.66
bitcoin-cash
Bitcoin Cash (BCH) $ 383.56
uniswap
Uniswap (UNI) $ 9.98
near
NEAR Protocol (NEAR) $ 5.28
wrapped-eeth
Wrapped eETH (WEETH) $ 3,621.21
litecoin
Litecoin (LTC) $ 74.11
leo-token
LEO Token (LEO) $ 5.67
matic-network
Polygon (MATIC) $ 0.564940
dai
Dai (DAI) $ 0.999373
pepe
Pepe (PEPE) $ 0.000011
fetch-ai
Fetch.ai (FET) $ 1.54
internet-computer
Internet Computer (ICP) $ 8.19
ethena-usde
Ethena USDe (USDE) $ 1.00
kaspa
Kaspa (KAS) $ 0.146380
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,500.21
ethereum-classic
Ethereum Classic (ETC) $ 23.34
aptos
Aptos (APT) $ 6.83
monero
Monero (XMR) $ 162.27
render-token
Render (RNDR) $ 7.43
hedera-hashgraph
Hedera (HBAR) $ 0.077715
stellar
Stellar (XLM) $ 0.090946
cosmos
Cosmos Hub (ATOM) $ 6.72
mantle
Mantle (MNT) $ 0.801917
arbitrum
Arbitrum (ARB) $ 0.795921
okb
OKB (OKB) $ 41.69
crypto-com-chain
Cronos (CRO) $ 0.092505
filecoin
Filecoin (FIL) $ 4.38
blockstack
Stacks (STX) $ 1.65
immutable-x
Immutable (IMX) $ 1.53
first-digital-usd
First Digital USD (FDUSD) $ 0.999693
maker
Maker (MKR) $ 2,461.16
sui
Sui (SUI) $ 0.896594
vechain
VeChain (VET) $ 0.025782
the-graph
The Graph (GRT) $ 0.215725