Ethereum price starts the week above the $3150 level

Ethereum chart analysis

Over the weekend, Ethereum’s price stabilized above the $3000 level. With support in the EMA50 moving average, we quickly climbed above the $3150 level on Saturday. There, we got support from the EMA200 moving average, and on Sunday, we successfully held above that level.

On Monday morning, the price of Ethereum makes a bullish impulse above $3200 and jumps to a new high at the $3240 level. For now, we are pulling back slightly from that level to support at $3200. We will see if the support holds and pushes us with a new bullish impulse. A new test of the $3240 level follows, and we can hope for a jump to a new weekly low above it. Potential higher targets are $3250 and $3275 levels.

EMA200 and $3150 levels are good support for this week’s bullish option

If the support at $3200 does not hold, Ethereum’s price could drop to the $3150 level. There, we test the EMA200 moving average support. Yesterday, we had his support, which does not mean that we will see a break below in the next test. With this, we form a new daily low and move to the bearish side.

By falling to the $3100 level, we are going to a two-day low, which will only strengthen the bearish momentum and move us away from the previous bullish consolidation. Potential lower targets are $3050 and $3000, our weekend support.

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