Ethereum Price Rises Above $3,000 Amid Bullish Momentum

Ethereum (ETH) price is experiencing a fresh increase above $3,000, with current trading above $3,050 and the 100-hourly Simple Moving Average.

A key bearish trend line presents resistance at $3,140 on the ETH/USD hourly chart.
The price could continue rising if it surpasses the $3,150 zone.
Current major resistance levels are at $3,200 and $3,250. A breakout above $3,250 may push the price towards $3,320 and potentially $3,450-$3,500.
If unable to clear $3,140, Ethereum might see a decline with initial support at $3,050 and stronger support around $3,000.
A move below $3,000 could lead to further declines towards $2,950 and possibly $2,840-$2,820.

Technical indicators suggest bullish momentum with the MACD gaining in the bullish zone and RSI above the 50 mark.

Ethereum Price