The price of Ethereum is trading at 3,399 at the time of writing below 3,437 yesterday's high. The bias is bullish, so further growth is in cards. Bitcoin's rally forced the altcoins to grow as well. ETH/USD could extend its growth if it stabilizes above the 3,284 broken resistance.
In the last 24 hours, ETH/USD is up by 2.35% and by 12.80 in the last 7 days. Technically, after its amazing rally, we cannot exclude a temporary retreat. The rate could come back to test and retest the immediate support levels before resuming its growth.
ETH/USD Minor Retreat Favored!
ETH/USD rallied and it tries to erase yesterday's minor losses. As long as it stays above the uptrend line, the bias is bullish, the altcoin could approach and reach fresh new highs. Its breakout above 3,284 signaled a potential upside continuation.
Personally, I would have liked the price to test and retest 3,284 before resuming its growth. The R1 of 3,453 stands as the immediate upside resistance. A new higher high, a valid breakout may signal an upside continuation.
ETH/USD Outlook!
3,282 represented an upside obstacle. Breaking above it may signal further growth. Testing and retesting the 3,284 and the uptrend line could bring new buying opportunities.
