Ethereum price climbed to a new multi-month high above $3,400. ETH is consolidating like Bitcoin and seems to be setting up for another bullish spree.
- Ethereum extended its increase above the $3,400 resistance zone.
- The price is trading above $3,350 and the 100-hourly Simple Moving Average.
- There is a key bullish trend line forming with support at $3,250 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could correct lower, but dips might be limited below the $3,250 support zone.
Ethereum Price Extends Rally
Ethereum price remained in a bullish zone after it settled above the $3,000 pivot level. Bitcoin saw strong moves above the $60,000 resistance. It even rallied toward the $64,000 level. ETH also started a decent increase and cleared the $3,320 resistance.
It surged over 10% and even tested the $3,500 level. A new multi-month high was formed near $3,496 before there was a sharp…
