- Ethereum started a fresh increase above the $3,120 and $3,200 resistance levels.
- The price is now trading above $3,150 and the 100 hourly simple moving average.
- There was a break above a crucial bearish trend line with resistance near $3,150 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could accelerate higher if there is a clear break above $3,260.
Ethereum remained well bid above the $2,950 support zone, similar to bitcoin near $44,000. ETH price formed a base above $2,950 and it started a fresh increase.