$ETH Ethereum price rose more than 7% on Tuesday and consolidated around the 200-day EMA at $3,338 over the next two days. As of writing on Friday, ETH is trading down, failing to close above this resistance level.
If ETH closes above the 200-day EMA at $3,338, it could extend the rally toward the December 10 high of $3,447. A close above this level could extend gains toward the next resistance at $3,592.
Like Bitcoin, Ethereum’s RSI and MACD indicators signal bullishness, further supporting a positive view.
However, if ETH fails to close above the 200-day EMA and extends its correction, it could decline toward the 50-day EMA at $3,154.
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