Once Ethereum's price hit the 38.2% Fibonacci level, it began to recover. With this opportunity, it may once again find support around the $3,459 mark. The cryptocurrency's price will rise and reach the 50% Fibonacci level with this support.
As the MACD indicator's red bars keep falling, it could also lead to a positive outcome. The Moving Average Convergence/Divergence (MACD) is a momentum indicator that displays the correlation between two price moving averages. The formation of a bullish crossover by the indicator will confirm the start of the rally.
