4-Hour Analysis:
Big Picture: The price of ETH remained stable between 3200 and 3050 level. When ranges become this thin, it usually means that a bigger, stronger move is on the cards. To keep bullish sentiment in its advantage, ETH must sustain over $3000 mark. Breaking below 3000 this time, however, would be a sign of weakness until quickly reclaimed. Any stronghold below the 3000 threshold will reopen 2850, followed by 2660.
On Upside, first intra-day resistance is observed at 3120 level followed by 3200. To reach the next targets of 3320 and 3410, ETH must advance above 3240 level. EMA-200 test still remain insight and any major breakout above this level straight leads towards 3780-3820.
On the Downside 3120 is the initial intraday resistance level, followed by 3200. ETH must rise above 3240 to hit the next targets of 3320 and 3410. EMA-200 Daily test is still in sight, and any strong breakout above this level will straight lead towards 3780-3820.
