The price of Ethereum ($ETH ) started to recover after the correction, bouncing off the support level at $3,220. The important resistance at the moment is the level at $3,550, after which the price will continue to move along the trend.

The price briefly broke $3,500, but sellers engaged and are still active below $3,550. After reacting from the level, the price entered a consolidation phase and is currently trading below the 23.6% Fibonacci level from the last movement from the minimum of $3,226 to the maximum of $3,534.

However, ETH continues to trade above the 100-hour simple moving average, while on the hourly timeframe, an upward structure with a trend line and support at $3,425 is maintained. $COW $PHA #BtcNewHolder