Ethereum Holds Ground at $3,280 as Momentum Indicators Flash Warning Signs

Ethereum has maintained its support level at $3,280 after experiencing a rally to $3,402 and subsequent pullback. The cryptocurrency surpassed resistance levels at $3,320 and $3,350 before hitting its peak. However, it fell below the 23.6% Fibonacci retracement level of the move from the $3,060 swing low.

A bullish trend line has formed on the hourly ETH/USD chart with support at $3,280. The token remains above the 100-hourly Simple Moving Average (SMA). Immediate resistance sits at $3,320, followed by $3,350 and $3,385.

Technical indicators present a mixed picture. The MACD is losing momentum in the bullish zone, while the RSI has dropped below 50. A break above $3,385 could push prices toward $3,450 and potentially $3,500. If the $3,280 support fails, the next key level is $3,260 near the 100-hourly SMA.