$ETH Ethereum is poised for a rally as it closes above its consolidation zone🚀
Ethereum price broke and closed above its upper consolidation level of $3,522 on Friday and rallied 1.6% until Sunday. At the time of writing on Monday, it continues to trade in green at around $3,689.
If ETH continues its upward trend, it would extend the rally to retest its psychological importance level of $4,000.
The RSI on the daily chart reads 57, above its neutral value of 50, and it is pointing upwards, suggesting bullish momentum is gaining traction. Moreover, like Bitcoin, the MACD indicator flipped a bullish crossover on the daily chart on Friday, signaling an upward trend.
On the other hand, if ETH breaks and closes below $3,236, it would extend the decline to retest its next support level at $3,000.
