Ethereum price faces key levels now at $3,332
Ethereum price faces key levels
Ethereum (ETH) is trading at $3,332, maintaining its bullish momentum despite breaking the floor of the rising trend channel in the medium to long term.
This development indicates a slower initial rising rate, but the currency remains technically positive. The price has risen significantly since breaking through resistance at $3,127, completing the inverse head-and-shoulders pattern with an objective of $3,253, which has already been met. The formation continues to signal further upward potential.
Ethereum’s recent breakout above $3,300 reinforces its bullish outlook, with this level now acting as a key support in case of negative reactions. If ETH holds above $3,300, it could pave the way for further gains, targeting $3,500 as the next major resistance.
ETH price dynamics (January 2024-January 2025). Source: TradingView.
Despite the positive price action, volume analysis presents a mixed picture. Volume tops and bottoms do not align well with price movements, and the negative volume balance weakens the overall bullish case. The Relative Strength Index (RSI) remains in a neutral to slightly positive range, suggesting balanced momentum with room for further upside.
Fibonacci analysis aligns with the support at $3,300, underscoring its importance for sustaining the rally. Investors should watch this level closely, as maintaining it could validate ETH’s path toward higher price targets.
Ethereum has traditionally shown greater volatility than Bitcoin, making ETH investments riskier but potentially offering higher returns. ETH Long-term price predictions can change, as they are based on current market trends and updated periodically to reflect market shifts.
