Ethereum price seems to be aiming for a decent recovery. ETH could gain bullish momentum if there is a clear move above the $3,110 resistance.
Ethereum is slowly moving higher above the $3,000 level.
The price is trading above $3,000 and the 100-hourly Simple Moving Average.
There is a short-term declining channel or a bullish flag forming with resistance near $3,080 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if there is a close above the $3,110 resistance.
Ethereum Price Eyes Steady Recovery
Ethereum price remained stable above the $2,880 support zone. ETH started a decent upward move and climbed above the $2,950 resistance, like Bitcoin. The price even cleared the $3,050 resistance before the bears emerged.
The pair tested the $3,120 resistance zone. A high was formed at $3,110 and the price is now consolidating gains. There was a minor decline below $3,080. The price declined below the 23.6% Fib retracement level of the u
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