$ETH Ethereum Price Poised for a Rally if It Closes Above $3,460
Ethereum price faced rejection at its weekly level of $3,454 and declined 2.63% on Tuesday to find support around the 61.8% Fibonacci level (drawn from its March high of $4,093 to its August low of $2,108) at $3,335. It traded around $3,420 on Wednesday, approaching its weekly resistance again.
If ETH breaks and closes above $3,454, it could extend the rally by 16% to the psychologically important level of $4,000.
The RSI on the daily chart is at 64, above its neutral level of 50, indicating that bullish momentum is gaining strength well below overbought conditions.
