Ethereum price climbed to a new multi-month high above $3,500. ETH is correcting gains like Bitcoin and might find strong bids near the $3,250 zone.

Ethereum extended its increase above the $3,500 resistance zone.

The price is trading above $3,300 and the 100-hourly Simple Moving Average.

There is a major bullish trend line forming with support at $3,260 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could correct lower, but dips might be limited below the $3,260 support zone.

Ethereum Price Eyes Fresh Increase

Ethereum price gained pace after it broke the $3,200 resistance zone, like Bitcoin. ETH cleared many hurdles near the $3,320 and $3,400 levels. Finally, it spiked above the $3,500 level.

A new multi-month high was formed near $3,515 before there was a downside correction. The price declined below the $3,420 and $3,400 levels. It even tested the 50% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.

No KYC Casino and Sportsbook with up to 300% match bonus + 175 Free Spins, and Wager Free Cashback. Play now at ROLR.IO!

Ethereum is now trading above $3,300 and the 100-hourly Simple Moving Average. There is also a major bullish trend line forming with support at $3,260 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward wave from the $3,110 swing low to the $3,515 high.

Immediate resistance on the upside is near the $3,420 level. The first major resistance is near the $3,450 level. The next major resistance is near $3,500, above which the price might gain bullish momentum.

#Ethereum(ETH) $ETH