Ethereum Price Climbs Toward $3,200 And Bulls Are Just Getting Started

Ethereum price is outperforming Bitcoin with a move above $3,000. ETH is showing bullish signs and might soon climb above the $3,200 resistance. Ethereum started a fresh increase above the $3,000 resistance zone. The price is trading above $3,050 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its increase toward $3,200 or even $3,250 in the near term. Ethereum Price Outperforms Bitcoin Ethereum price remained stable above the $2,880 support zone. ETH formed a base and started a fresh increase above the $3,000 resistance. It gained nearly 5% and outperformed Bitcoin. A new multi-week high is formed near $3,121 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward wave from the $2,907 swing low to the $3,121 high. There is also a key bullish trend line forming with support at $3,080 on the hourly chart of ETH/USD. Ethereum is now trading above $3,085 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,120 level. The first major resistance is near the $3,150 level. Source: ETHUSD on TradingView.com The next major resistance is near $3,200, above which the price might gain bullish momentum. If there is a move above the $3,200 resistance, Ether could even rally toward the $3,280 resistance. Any more gains might call for a test of $3,320. Are Dips Supported In ETH? ….