Ethereum price is in a strong bullish trend since Monday

Ethereum chart analysis

The price of Ethereum managed to cross the $3200 level yesterday. After that, we saw stable maintenance above that level until this morning when we jumped above the $3300 level with a new impulse. With that, we formed a new high at the $3335.0 level.

We remain high above $3300, which could lead to another bullish impulse and take us to a new high. Potential higher targets are $3350 and $3375 levels. If we encounter stronger resistance in this zone, we could see a pullback below $3300 to the previous support at the $3250 level.

The next impulse could take Ethereum to $3400

New pressure in that zone would negatively affect the price of ETH to start a pullback below. With this, we form a new price low and confirm the beginning of a bearish swing. Potential lower targets are $3200 and $3150 levels. The weekly open price is at the $3112 level.

The total crypto market cap exceeded $2.20 trillion this morning; Ethereum is still second only to Bitcoin, with over $400 billion now. In the previous month, the value of ETH jumped by 46.90%, and only this week, by 9.90%. The trading volume in the previous 24 hours was $17 billion, and 120.15 million Ethereum coins are in circulation.

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