TA: Ethereum Losing Pace, What Could Trigger Another Increase

Mar 30, 2022 10:00 am Cryptocurrency 119

Ethereum is consolidating below the $3,450 resistance against the US Dollar. ETH price could resume increase if it stays above the $3,250 support.

Ethereum is showing positive signs above the $3,350 support zone.

The price is now trading above $3,300 and the 100 hourly simple moving average.

There is a major bullish trend line forming with support near $3,250 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start another increase if it clears the $3,440 and $3,450 resistance levels.

Ethereum Price Remains Supported

Ethereum extended increase above the $3,400 resistance zone. ETH even climbed above the $3,450 resistance and formed a high near the $3,482 level.

Recently, there was a downside correction below the $3,400 level. The price even declined below $3,350, but it remained stable above $3,320. It is also trading above $3,300 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $3,250 on the hourly chart of ETH/USD.

A low is formed near $3,335 and ether price is now ..

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