Ether could soon exceed $ 3,300

Ethereum has exceeded the $ 3,200 mark for the first time in months and could soon test the resistance at 23.6% FIB level at $ 3,369

The wider cryptocurrency market has recovered in the past few days and Ethereum is the focus. The second largest cryptocurrency after market capitalization has increased by almost 30 % last week and is intended to continue their rally in the next few hours and days.

Ether did not cut off well yesterday and fell by 0.64%before he reversed the loss and started a mini rally to end day trade over $ 3,100. The cryptocurrency has managed to stay above the $ 3,200 region in the past few hours, and there is optimism that it could soon test higher levels of resistance.

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ETH price view

The ETH/USDT couple looks bullish for the coming day after it has increased by almost 3% in the last 24 hours. For the rest of the day, ETH would have to avoid a decline under the pivot of $ 3,143 if it plans to test the first major level of resistance at $ 3,235. At the moment ETH acts at $ 3,212 per coin and is in the process of testing this level of resistance.

ETH/USDT 4-hour chart. Source: Coinlyze

The support from the general cryptocurrency market could offer further scope. With an extensive market rally, Ether could test the resistance at the 23.6% FIB level of $ 3,369. Ether has not reached this level for weeks, and the exceeding of the resistance level of over 3,300 USD could be the trigger that ETH will reach $ 3,500 in the coming days.

If ETH is unable to build its dynamics, it could fall on the first major support level at $ 3,050. If there is no longer sell -out, Ether should stay away from less than $ 2,900. The second major level of support is currently $ 2,959 and could limit the loss if the market is declining.