Ethereum Price Readies for a Fresh Climb: Will Momentum Build?

Nov 19, 2024 04:00 am Cryptocurrency 134

Ethereum price started a consolidation phase near the $3,000 zone. ETH is slowly moving higher and might aim for a fresh surge above $3,220.

Ethereum is consolidating and facing hurdles near $3,220.

The price is trading above $3,150 and the 100-hourly Simple Moving Average.

There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if it clears the $3,220 resistance zone.

Ethereum Price Faces Hurdles

Ethereum price remained supported above the $3,000 level like Bitcoin. ETH formed a base and recently moved above the $3,120 and $3,150 resistance levels.

There was a break above a key bearish trend line with resistance at $3,130 on the hourly chart of ETH/USD. The pair even cleared the $3,200 level and tested $3,220. A high was formed at $3,224 before there was a ethereum price readies fresh climb momentum build