TA: Ethereum Eyes Key Upside Break, $3K Holds The Key

Ethereum extended increase above the $3,050 resistance against the US Dollar. ETH price even climbed above $3,150 and might attempt a break above $3,200. Ethereum gained pace and was able to clear the $3,120 resistance. The price is now trading above $3,050 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $3,050 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend increase if stays above the $3,000 support zone. Ethereum Price Eyes More Gains Ethereum remained well supported above the $3,000 level and the 100 hourly simple moving average. ETH extended increase above the $3,050 resistance zone. It even broke the $3,120 resistance and traded to a new high at $3,196. It is now consolidating gains and trading below the $3,150 level. Ether also tested the 23.6% Fib retracement level of the recent increase from the $2,832 swing low to $3,196 high. However, the price is placed above $3,050 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $3,050 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate resistance is near the $3,150 level. The first major resistance is near the $3,180 level. The main resistance sits near the $3,200 level. A successful close above $3,200 might start another increase. In the stated case, the price could test the next key hurdle at $3,250. Any more gai...