Ethereum price analysis: ETH likely to retest $3,200

TL;DR Breakdown Ethereum price analysis shows that the ETH/USD pair is likely to retest the $3,200 mark.Strong support is currently present at the $3,120 mark.Strong resistance is currently present at the $3,177 mark. The latest Ethereum price analysis reveals that the queen of cryptocurrency is all set to retest the $3,200 mark. At the time of writing, the cryptocurrency stands at the $3147 mark and struggling to gain some momentum to retest the higher resistance. In the past 24-hours, Ethereum price has seen significant bearish movement with strong support found at the $3,120 mark. Ethereum price analysis: 24-hours candlestick show priming for a good retest The 24-hour candlestick price chart shows that the cryptocurrency is priming for a new retest above the $3,200 mark. At the time of writing, the volatility is decreasing, and the strongest support is found at the Bollinger bands’ average value of $3,078. Whereas the upper Bollinger band value stands at the $3,484 mark, and the lower Bollinger band value stands at the $2,673 mark. ETH/USD 1day candlestick price chart. Source: Trading View On the other hand, ETH/USD pair is facing strong resistance at the nine-day moving average (MA), standing at the $3,177 mark. The relative strength index (RSI), however, stands at a unique position far from the overbought mark at a value of 58.78. This shows room for buyers to push the price above the $3,200 mark. ETH/USD price pai...