When BTC tumbled to $40,000, Ethereum price was riding shotgun. Thus, ETH fell below $3,000, a key psychological level, and shaped a swipe low at $2,650.

Unrelatedly, Ethereum price has scaled above this barrier and displays an inclination to go upper.

Furthermore, ETH needs to share through the $3,202 resistance level to have a possibility of retesting the swing high at $3,619.

If the purchasers can push Ethereum price to produce a conclusive close above $3,619, it will specify the start of a new rally. In this state, the smart contract token could hike to $4,180.