Yesterday we spotted a bullish flag on the Ethereum chart and predicted the price to rise to $3400 which was perfectly achieved. However, the concern is Ethereum bounced back from an important level.
Ethereum price today is $3,358.11 USD with a 24-hour trading volume of $14,938,236,421 USD. Ethereum is up 1.16% in the last 24 hours, with a market cap of $400,093,585,205 USD. It has a circulating supply of 119,142,355 ETH coins.
The price is still under EMA on the 4-hour chart so the higher timeframe remains still bearish. Nevertheless, we can call this ‘bounce off’ a pullback to get some fresh buyers and keep the ascend on. The next major resistance for Ethereum could be at the trend line of lower highs however, there is no local support before $3000 major support.