Why Ethereum (ETH) Bulls Keeps Pushing, Why Rally Isn’t Over Yet

Ethereum is holding gains above the $3,200 resistance zone against the US Dollar. ETH price remains attractive and it might continue to rise towards the $3,350 resistance. Ethereum is trading nicely above the $3,100 and $3,150 support levels. The price is now trading above $3,200 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair is consolidating and it is likely to extend gains above the $3,250 level. Ethereum Price Could Extend Gains Ethereum climbed higher steadily above the $3,150 resistance zone. ETH price even broke the $3,200 resistance zone and it settled nicely above the 100 hourly simple moving average. A new multi-week high is formed near $3,278 and the price is now correcting gains. It declined below the $3,240 support level. There was a break below the 23.6% Fib retracement level of the recent wave from the $3,052 swing low to $3,278 high. However, ether price remained well bid above the $3,150 support. It also found support near the 50% Fib retracement level of the recent wave from the $3,052 swing low to $3,278 high. There is also a key bullish trend line forming with support near $3,110 on the hourly chart of ETH/USD. On the upside, an immediate resistance is near the $3,250 level. The next key resistance is near the $3,275 level. Source: ETHUSD on TradingView.com A clear break and close abo...