loading . . . Ethereum Tightens Uptrend Structure as Market Eyes Another Wave of Gains Ethereum's price experienced a fresh surge, surpassing the $3,050 and $3,120 levels, indicating bullish momentum. Currently, the price is trading above $3,120 and the 100-hourly Simple Moving Average, suggesting continued strength. A short-term contracting triangle is forming, providing support at $3,130 on the hourly chart. Key resistance levels are identified at $3,240, $3,250, and potentially $3,320, which the bulls are aiming to break. A successful breach of $3,250 could pave the way for a rally towards $3,320, and even $3,450 or $3,500. However, if Ethereum fails to break $3,240, a correction could occur with initial support at $3,120 and a major support at $3,050. The technical indicators display bullish signals with the MACD gaining momentum and the RSI above 50. Should the price decline, further support levels are at $3,000, $2,980, and $2,850. Overall, the market remains cautiously optimistic, but a failure to overcome resistance could trigger a downward trend. https://www.newsbtc.com/analysis/eth/ethereum-tightens-uptrend-3250/
