✨Ethereum Price Consolidation: A Springboard for More Gains?

The price of Ether has maintained an upward trend above the $3,500 range. Ether is consolidating and may soon break through the resistance level of $3,600.
Ethereum started a downside correction from the $3,685 zone.
The price is currently above $3,520 and the 100-hour simple moving average.

On the hourly chart of ETH/USD, there is a connecting bearish trend line formed, with the resistance level at $3,600
If the currency pair breaks through the $3,600 zone, it may start pumping again.

☀️ETH prices are expected to soar again
The price of ETH maintained support above $3,250 and started pumping again, surpassing BTC. ETH broke through the resistance levels of $3,500 and $3,550.
Longs pushed the price above $3,650. The price formed a high point at $3,688 and corrected some of the gains recently. The price slightly fell below the levels of $3,650 and $3,620. The price fell below the 23.6% Fibonacci retracement of the upward wave from the swing low of $3,255 to the high of $3,688.

⚡️The ETH price is currently trading above $3,520 and the 100-hour simple moving average. From the upside, the price seems to face resistance near $3,600. On the hourly chart of ETH/USD, there is also a connected bearish trend line with resistance at $3,600.
The first major resistance level is around $3,650. The current major resistance level is forming near $3,680. If the resistance level at $3,680 is significantly broken, the price may fall towards the resistance level at $3,750. If the resistance level at $3,750 is broken, there may be more pump in the coming days. In this case, Ether may rise to the resistance level at $3,880, or even $3,920.

Will the loss of 📉ETH be greater?
If ETH fails to break the resistance level at $3,650, it may drop again. The initial support level on the downside is around $3,540. The first major support level is located near the $3,500 area.
fall below the $3,500 support level may push the price towards the 50% Fibonacci retracement level (3,470 US dollars) from the low of $3,254 to the high of $3,688. If the price falls further, it may fall to the $3,400 support level in the short term. The next key support level is at $3,350.

📈technical indicator
MACD per hour - The MACD of ETH/USD loses momentum in the bullish zone.
RSI per hour - ETH/USD's RSI is now above the 50 zone.
Main support level - $3,540
Main resistance level - $3,650
（tv-NewsBTC）