The price action began after a strong move from the $2,880 zone. Ethereum surpassed a key resistance level at $2,950 and later broke through a bearish trendline at $2,990 on the hourly chart of ETH/USD. This pushed ETH into a positive zone, establishing short-term support above $3,000.
Currently, ETH is trading near $3,050 and remains above the 100-hourly Simple Moving Average. Key resistance levels are seen at $3,120, $3,150, and the major zone at $3,220. If Ethereum clears these levels, it could rally toward $3,300, and potentially hit $3,420–$3,450.
Downside Risks?
If Ethereum fails to break above $3,150, it may correct lower. Initial support is near $3,100, with major support zones at $3,040, then $3,000, followed by $2,950 and $2,880.
Technical Indicators
- MACD: Bullish momentum gaining
- RSI: Above 50 (bullish zone)
- Support Levels: $3,000, $2,950
- Resistance Levels: $3,150, $3,220, $3,300
Ethereum bulls are in control. Holding above $3,000 could set the stage for another breakout in the sessions ahead.
