Ethereum gained pace above the $3,050 resistance against the US Dollar. ETH price could continue higher if there is a clear move above the $3,120 resistance.
Ethereum Price Extends Recovery
Ethereum formed a base above the $3,000 and started a decent recovery wave. ETH was able to clear the $3,050 resistance zone and the 100 hourly simple moving average.
There was also a move above a major bearish trend line with resistance near $3,060 on the hourly chart of ETH/USD. The pair surpassed the $3,080 resistance zone and traded above $3,100. A high is formed near $3,131 and the price is now consolidating gains.
It already tested the 23.6% Fib retracement level of ..
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