Ethereum Price Targets Break Above $3K, Bulls | Crypto News
Ethereum price began a first rate upward transfer above $2,900. ETH is now displaying optimistic indicators and may eye more features above $3,000.
- Ethereum began a recovery wave above the $2,920 zone.
- The price is trading above $2,950 and the 100-hourly Simple Moving Average.
- There is a bullish pattern line forming with help at $2,930 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair might continue to transfer up if it settles above the $3,000 zone.
Ethereum Price Eyes More Gains
Ethereum price managed to keep above the $2,880 pivot degree and began a recovery wave, like Bitcoin. ETH price climbed above the $2,920 resistance to enter a optimistic zone.
The bulls had been ready to push the price above the 50% Fib retracement degree of the downward transfer from the $3,075 swing high to the $2,888 low. Besides, there may be a bullish pattern line forming with help at $2,930 on the hourly chart of ETH/USD.
Ethereum price is now trading above $2,950 and the 100-hourly Simple Moving Average. If the bulls are ready to defend more losses below $2,950, the price might continue to transfer up.
Immediate resistance is seen close to the $3,000 degree and the 61.8% Fib retracement degree of the downward transfer from the $3,075 swing high to the $2,888 low. The first key resistance is close to the $3,030 degree. The next major resistance is close to the $3,050 degree. A clear transfer above the $3,050 resistance may ship the price toward the $3,120 resistance. An upside break above the $3,120 area may call for more features in the approaching days. In the acknowledged case, Ether might rise toward the $3,200 resistance zone or even $3,220 in the close to time period.
Another Decline In ETH?
If Ethereum fails to clear the $3,000 resistance, it might start a contemporary decline. Initial help on the draw back is close to the $2,950 degree.
The first major help sits close to the $2,920 zone. A clear transfer below the $2,920 help may push the price toward the $2,880 help. Any more losses may ship the price toward the $2,800 area. The next key help sits at $2,720.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,950
Major Resistance Level – $3,000
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