Ethereum Faces Resistance at $3,170-$3,270: Analysis

IconCrypto News Terminal23 Apr, 2024

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Ethereum Faces Resistance at $3,170-$3,270: Analysis

Cryptocurrency analyst Ali Martinez has highlighted a strong resistance range for Ethereum (ETH) between $3,170 and $3,270. This range is significant as it represents a concentration of 1.63 million addresses holding 4.45 million ETH. Martinez believes that a breakout from this range could lead to a rally towards $3,650. At the time of writing, ETH is trading at $3,233.14, up 1.56%, according to CoinMarketCap. Previously on 23 April 2024, Martinez had also analyzed Ethereum's price action and identified the $3,170-$3,270 range as a key resistance level.