Ethereum price is consolidating, key levels to watch in the future 👇👇👇

Ethereum price is in a consolidation state, fluctuating between $3,949 and $3,627. The previous rebound led to a price increase of more than 10%.

In the consolidation state, the price may accumulate momentum and either break through or break below the consolidation zone, and we cannot determine the next move.

ETH price rose by 0.66% and traded above the 100-day simple moving average of about $3,752 in the past 24 hours.

Observing the 4-hour chart, ETH price is above the 100-day moving average, showing a bullish trend and may break through the consolidation zone.

The MACD indicator shows signs of weakness, and although the histogram color has darkened, the MACD line and the signal line are still above the zero line, and a reversal may occur.

The RSI line is trying to rise back, indicating that the price is still bullish.

If the consolidation zone is broken, the ETH price may rise to the resistance level of $4,094 and even set a new high this year.

On the contrary, if it falls below the consolidation zone, the price may move towards the support level of $3,263, and then fall to the support level of $2,864.04.

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