NewsBTC
7 hour ago
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Ethereum Price Surges Above $2,950 Approaching $3,050 Resistance

Ethereum Price Update

  • Ethereum's price increased above $2,920 and $2,950, currently trading over $2,950.
  • The price surpassed a short-term bearish trend line with resistance at $2,825 on the ETH/USD hourly chart.
  • Key resistance levels are $3,050, $3,080, and $3,120. A break above $3,120 could push the price to $3,200 or higher.

Ethereum Price

Potential Decline

  • If Ethereum fails to break $3,050 resistance, it may decline.
  • Support levels include $2,970, $2,880, and potentially down to $2,720.

Technical Indicators

  • Hourly MACD indicates momentum in the bullish zone for ETH/USD.
  • Hourly RSI is above 50, suggesting bullish sentiment.