Ethereum started consolidating above $3,700 against the US Dollar. ETH price is supported above $3,700 and it could continue to rise above the $3,850 resistance. Ethereum started a downside correction from the $3,850 resistance zone. The price is now trading well above $3,700. The first major resistance is near the $3,850 level.
If ethereum fails to continue higher above the $3,820 and $3,850 resistance levels, it could start a downside correction. An immediate support on the downside is near the $3,720 level. The next major support is now forming near the $3,700 zone. The trend line support at $3,680 also holds a lot of importance.