TA: Ethereum Losing Pace, What Could Trigger Another Increase

Ethereum is consolidating below the $3,450 resistance against the US Dollar. ETH price could resume increase if it stays above the $3,250 support. Ethereum is showing positive signs above the $3,350 support zone. The price is now trading above $3,300 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $3,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it clears the $3,440 and $3,450 resistance levels. Ethereum Price Remains Supported Ethereum extended increase above the $3,400 resistance zone. ETH even climbed above the $3,450 resistance and formed a high near the $3,482 level. Recently, there was a downside correction below the $3,400 level. The price even declined below $3,350, but it remained stable above $3,320. It is also trading above $3,300 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $3,250 on the hourly chart of ETH/USD. A low is formed near $3,335 and ether price is now rising. There was a move above the 23.6% Fib retracement level of the recent decline from the $3,482 high to $3,335 low. On the upside, an initial resistance is near the $3,410 level. It is near the 50% Fib retracement level of the recent decline from the $3,482 high to $3,335 low. The next major resistance is near the $3,450 level. Ether price could start another surge if there is ...