Challenges in Ethereum's rising price: Can ETH break through $3,200?

Recently, Ethereum's price has been strong and successfully broke through the resistance level of $3,120, which makes the market full of expectations for whether it can break through the $3,200 mark in the future. So, is Ethereum really capable of continuing its upward momentum?

Ethereum's price has shown good strength recently, standing firmly above $3,080 and running above the 100-hour simple moving average. From the hourly chart of ETH/USD, we can see that a bullish trend line is forming with support at $3,070. All this seems to indicate that as long as ETH can successfully close above the $3,200 resistance area, its upward trend may be more stable.

At the same time, Ethereum's performance even outperformed Bitcoin. Its price not only successfully recovered the lost ground of $3,050, but also broke through $3,200 at one point, reaching a high of $3,213. Although the price has subsequently adjusted, this does not affect the market's optimistic expectations for Ethereum's future trend.

From a technical perspective, Ethereum is currently facing a resistance challenge of $3,140. Once this level is broken, $3,200 and $3,220 will become its next targets. If Ethereum can successfully stand above $3,220, its price is expected to hit $3,320 or even higher at $3,440.

However, the market is always full of uncertainty. If Ethereum fails to effectively break through the resistance level of $3,140, ​​its price may face the risk of a correction. In this case, $3,070 and $3,000 will become key support levels. In particular, the psychological level of $3,000, once lost, may trigger a larger decline.

In terms of technical indicators, the MACD indicator gradually loses momentum in the bull market area, and the RSI indicator has also fallen back below 50, indicating that the market may enter a short period of adjustment. However, this does not mean that the long-term upward trend of Ethereum has changed. The key support level remains stable around $3,070, while the resistance level is around $3,200. The market will pay close attention to these key points to determine the direction of future trends. #币安合约锦标赛 #ETH走势分析