Ethereum price hit a new multi-month high above $3,200, consolidating as Bitcoin surged past $55,000.
Within the last 30 days, Ethereum saw an impressive 48.5% increase, breaking through the $3,200 barrier for the first time since April 2022.
The surge may be influenced by expectations surrounding a potential Ether exchange-traded fund (ETF) in the US, pending approval from the SEC.
Daily chart analysis suggests the rally has approached the upper boundary of an expanding channel pattern.
Close to the $3,300 level, encountering the upper trendline could trigger a correction due to significant selling pressure.
Failing to maintain levels above $3,300 might lead to support around $3,000.
Breaking above the trendline could fuel a push towards the $3,500 level.
The critical question is whether Ethereum will break the trendline and continue its upward trend or experience a temporary halt.
According to Coingabbar Prediction, Ethereum price prediction 2030 is around $10,000.
KEY LEVELS :
RESISTANCE LEVEL : $3,300-$3,380
SUPPORT LEVEL : $3,200-$3,130
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