Ethereum Tightens Uptrend Structure as Market Eyes Another Wave of Gains

Ethereum price started a fresh increase above $3,200. ETH is now consolidating gains and might aim for more gains above $3,250. Ethereum started a fresh increase above the $3,050 and $3,120 levels. The price is trading above $3,120 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with support at $3,130 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it settles above the $3,240 zone. Ethereum Price Eyes Another Upside Break Ethereum price managed to stay above $2,920 and started a fresh increase, like Bitcoin. ETH price gained strength for a move above the $3,000 and $3,050 resistance levels. The bulls even pumped the price above $3,150.  However, the bulls struggled to clear $3,240 and $3,250. A high was formed at $3,239 and the price recently corrected some gains. There was a spike below the 23.6% Fib retracement level of the recent move from the $2,718 swing low to the $3,239 low. Ethereum price