There was a sudden boost in the momentum in the market, which has helped Ethereum get past the big $3,100 resistance against US Dollar. The prices could accelerate, and there are high chances that the price jumps over $3,200 as per newsbtc.
Ethereum started to gain the price, which boosted above the $3000 level.
The current trading price out there in the market is approximately $3100, and as the data shows, it will even accelerate more and jump to $3200. The ETH was seen in a positive zone, and the rate of $3050 was recorded with 100 hourly simple moving averages.
During the sudden increase, there were breaks seen in the trend, and it was expected that the price would settle less than $3000. With numerous short-term variations in $3000 to $3080, the values kept on fluctuating. As noted by the ETH/USD chart, the unique pair easily broke the resistance of $3120. The new trading value eventually was settled at $3190.
An intermediate resistance at the $3,160 level was seen, and on the other hand, a clear spark was seen, moving the rate to $3200. With a good break, an estimated growth can take the prices even to high levels at $3350. Such a huge jump has made the investors happy.
The Ethereum prices can fall down surprisingly.
The crypto market has always been fluctuating, and things can change quickly. If the values fail to grow over $3,160 or $3,180, then a great fall can be observed, which might take the prices $3,115. Hence the further boost or downfall cannot be easily predicted in this case. The upcoming major support will be approximately at the $3,080 level.
There was a 50% Fib retracement level witnessed recently with Ethereum.
According to the percent observed, there will be a huge swing from $2,950 to $3,190 high. If the prices dropped more than $3,080, there might be a greater drop in the prices. According to the data, there was $3,000 major support with the Ethereum market
