Ethereum Price Analysis: ETH Needs This Crucial Level Ahead Of Approach To $4,000

• Ethereum is doddering at $3,100 after failing to break the resistance at $3,200.
• The MACD may call more buyers into the market if Ether confirms a break above $3,200, a move that could bolster ETH toward $4,000.

Ethereum moved with its peers on Thursday and managed to reclaim the ground above $3,000. As reported earlier this week, the prominent smart contracts token had plunged to $2,650 amid a highly volatile cryptocurrency market. Ether also extended the bullish leg above $3,100 but stopped before brushing shoulders with $3,200.