Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Ethereum Price Power Play: Can It Smash Through Key Hurdles?

Ethereum price started a minor recovery wave above the $3,120 zone. ETH is rising and facing hurdles near the $3,240 zone. Ethereum started a minor recovery wave above the $3,120 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could struggle to start a fresh increase above the $3,240 resistance level. Ethereum Price Aims Higher Ethereum price started a recovery wave above the $3,050 level like Bitcoin . ETH was able to clear the $3,080 and $3,120 resistance levels to move into a short-term positive zone. The price even cleared the 50% Fib retracement level of the downward move from the $3,334 swing high to the $2,920 low. However, the bears are active near the $3,220 and $3,240 levels. There is also a short-term contracting triangle forming with resistance at $3,240 on the hourly chart of ETH/USD. Ethereum price is now trading just above $3,200 and the 100-hourly Simple Moving Average . On the upside, the price seems to be facing hurdles near the $3,230 level. It is near the 76.4% Fib retracement level of the downward move from the $3,334 swing high to the $2,920 low. The first major resistance is near the $3,240 level. The main resistance is now forming near $3,330. A clear move above the $3,330 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,550 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,240 resistance, it could start another decline. Initial support on the downside is near the $3,180 level. The first major support sits near the $3,120. A clear move below the $3,120 support might push the price toward the $3,050 support. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $2,920. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,120 Major Resistance Level – $3,240 CoinOtag

---

eGirl Capital Projects Bullish 2025

eGirl Capital, a crypto-native fund that launched in 2020, released its annual yearly predictions from its investors, analysts, and interns, and nearly all of the contributors are calling for a bullish 2025. The founder of Cove Finance , expects a golden age of American-based DeFi “after some sensible regulation passes Congress and is signed into law”. Meanwhile, the founder of Argus Labs says that improved regulatory sentiment in the U.S. means there will be an increased appetite for non-token-based infrastructure” citing Circle and Fireblocks as examples. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag