- Ethereum price analysis is bullish for today.
- Ethereum rallied overnight.
- ETH/USD ready to break $3,300.
Ethereum price analysis is bullish for today as bulls pushed the market price back to the $3,300 resistance overnight, where bulls attempt another breakout. Considering that a new higher low was set yesterday, we expect ETH/USD to finally spike higher and finally set further highs later this week.
The cryptocurrency market traded with a bullish momentum over the last 24 hours. Bitcoin is up by almost 3 percent, while Ethereum is up by 3.23 percent. Binance Coin (BNB) is among the best performers, with a gain of 9 percent.
Ethereum price movement in the last 24 hours: Ethereum sets higher low, moves to $3,300 again
ETH/USD traded in a range of $3,142.01 – $3,362.83, indicating a moderate amount of volatility over the last 24 hours. Trading volume totals $19.87 billion, up 26.63 percent from yesterday. Meanwhile, the total market cap stands at around $392 billion, resulting in a market dominance of 18.13 percent.
ETH/USD 4-hour chart: ETH set to break $3,300 today?
On the 4-hour chart, we can see the Ethereum price attempting to break the $3,300 resistance again after a rally overnight.
Ethereum price has increased by more than 90 percent over the past month after setting a new swing low of around $1,725. Resistance was finally found below the $3,300 mark earlier this month, with ETH/USD retesting it several times.
This resulted in a more than week-long consolidation, with the $2,950 mark retested as support. Over the weekend, bulls pushed ETH back to the $3,300 mark, with another slightly higher low set late yesterday, indicating that bulls are preparing to finally push above the resistance.
This Ethereum price action has resulted in a brief move above $3,300 today, with bulls currently testing new highs. Overall, ETH/USD should continue higher today and finally set a clear higher high, leading to more upside later this week.
Ethereum Price Analysis: Conclusion
Ethereum price analysis is bullish for today as the market rallied overnight after setting a higher low above the $3,100 mark yesterday. Therefore, we expect ETH/USD to continue moving higher later today and break the $3,300 mark.
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