Why Ethereum could accelerate above $3,200; dips remain attractive

Ethereum is holding gains above the $3,000 pivot zone against the US Dollar. ETH price is likely to accelerate higher if there is a clear break above the $3,200 resistance zone.

  • Ethereum is trading nicely above the $3,000 and $3,050 support levels.
  • The price is now trading above $3,100 and the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $3,060 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to resume its rally once it clears the $3,200 resistance zone.

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