Ethereum / TetherUSUpdated Ethereum's Price Consolidates Near Resistance
Ethereum (ETH) is currently trading near $3,154, approaching a critical resistance level at $3,215 after a series of bullish and corrective moves. The price action has formed a double-bottom structure within the support zone around $3,027, suggesting buyer interest at lower levels.
However, ETH faces significant resistance near $3,215. If the price fails to break above this zone, a retracement toward $3,050 could occur. On the upside, a breakout above $3,215 may trigger a rally toward $3,350 and beyond.
Traders are closely monitoring the current consolidation phase as the next move will likely set the tone for ETH's short-term trend.
However, ETH faces significant resistance near $3,215. If the price fails to break above this zone, a retracement toward $3,050 could occur. On the upside, a breakout above $3,215 may trigger a rally toward $3,350 and beyond.
Traders are closely monitoring the current consolidation phase as the next move will likely set the tone for ETH's short-term trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.