17 hour ago
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Ethereum Price Rises Above $2,900 in Recovery Wave
Ethereum is showing signs of recovery, with its price moving above $2,880. Key observations include:
- ETH has surpassed $2,850 and $2,880, trading above $2,900 and the 100-hourly Simple Moving Average.
- A break occurred above a key bearish trend line at $2,950 on the hourly ETH/USD chart.
- The price might continue rising if it settles above the $3,000 resistance level.
Potential Upside for Ethereum
- If Ethereum breaks the $3,060 resistance, it could reach towards $3,150 and potentially $3,220–$3,250 in the near term.
- Resistance levels to watch are $2,980, $3,000, and $3,060.
Possible Decline
- If unable to clear $3,000, ETH may decline, with initial support at $2,920 and major support at $2,880.
- A move below $2,880 could push the price to $2,800 or further down to $2,740, with key supports at $2,650 and $2,620.
Technical Indicators:
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above the 50 zone.
Major Support Level: $2,880
Major Resistance Level: $3,000