🔥 Ethereum Eyes $3,000 — Riding the Momentum of Bitcoin’s Rally

After finding support at $2,440, Ethereum price rose. ETH is soaring and may break $2,650 resistance.

Ethereum began rising beyond $2,500 and $2,520.
The price is over $2,540 and the 100-hour SMA.
The hourly ETH/USD chart shows a bullish trend line with support near $2,500.

If it breaks $2,620, the pair may strengthen.
Ethereum Price May Rise

Ethereum surged over $2,350 as Bitcoin hit a record high. Around $2,440, ETH bulls were active. Price rose after a low of $2,442.

Prices rose beyond $2,500 and $2,520. Price exceeded the 50% Fib retracement level of the falling wave from $2,615 swing high to $2,442 low. In addition, the hourly ETH/USD chart shows a bullish trend line with support at $2,500.

Ethereum is over $2,520 and the 100-hour SMA. It also exceeds the 76.4% Fib retracement of the negative wave from $2,615 swing high to $2,442 low.

Price may find resistance at $2,620 on the upside. Around $2,650 is the next major resistance. Near $2,720 is the first substantial resistance. A clean break over $2,720 might push the price above $2,840.

Above $2,840 barrier might lead to greater advances in the following sessions. Ether may increase to $2,920 or $3,000 soon.

Another ETH Drop?
Ethereum may fall again if it fails to break $2,620. Initially, downside support is approaching $2,525. First big support is between $2,500 and the trend line.

A decisive break below $2,500 might bring the price near $2,440. If losses continue, the price may reach $2,420 support. The next support is $2,350.

Tech Indicators

Hourly ETH/USD MACD is rising in the positive zone.

Hourly ETH/USD RSI is over 50.

Major Support—$2,500

Major Resistance: $2,620

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