Ethereum Price Breaks Out: Smashes $3,400 Mark in Bullish Run

Ethereum's price has surged, breaking past the $3,400 mark after starting above $3,220. It's currently consolidating these gains, with potential for a slight drop towards the $3,220 area. A bullish trend line is forming with support at $3,300. If Ethereum stays above $3,220, it could begin another increase. Resistance is expected around $3,350 and then $3,400, with a breakthrough at $3,420 potentially leading to $3,500 or even higher. However, failure to surpass $3,420 could trigger a downward correction, with support levels at $3,300, $3,220, and further down at $3,180 and $3,050. Technical indicators show the MACD gaining bullish momentum and the RSI above 50. Key support is at $3,300 and key resistance is at $3,420.