$ETH is currently approaching its second significant resistance area and the market is closely tracking this point. The recent price movement indicates that $ETH is gaining strength as it works towards the 3,300 to 3,400 price.

In the event that $ETH manages to retake this zone, it would be a resounding short term positive indicator and may lead to higher gains. Purchasers appear to be coming back slowly, which gives a chance of continuation rally.

But should ETH be repelled at this resistance, the probability is that ETH will revert. The next point to keep an eye on would be the support zone of $3,000 that would be key in supporting the larger bullish structure.