๐ Ethereum Eyes $3,000 as Bullish Momentum Returns
Ethereum is making a strong comeback, with price action building above key support levels. After holding firm above $2,650, ETH surged again, confidently trading above $2,700 and its 100-hour simple moving average (SMA).
๐ On the hourly ETH/USD chart, a bullish trendline has formed near $2,750, providing solid support. Buyers are stepping in, and momentum is picking up fast.
๐ผ Key Resistance Levels Ahead:
Immediate hurdle: $2,820
Strong resistance: $2,850
Breakout zone: $2,880
If Ethereum clears these zones, we could see a swift move toward $2,920, and potentially $3,000 or even $3,120 in the short term.
๐งญ Can Ethereum Hold Its Ground?
If ETH fails to break above $2,850, we could see a pullback to $2,750. Below that, $2,650 becomes a crucial support level โ aligning with the 50% Fib retracement of the move from $2,483 to $2,832.
A drop below $2,650 could expose Ethereum to $2,600, and further weakness might test $2,550โ$2,500.
๐ง Technical Indicators:
MACD (1H): Gaining strength in the bullish zone
RSI (1H): Holding above 50, signaling positive momentum
Support Levels: $2,750 โ $2,650 โ $2,500
Resistance Levels: $2,820 โ $2,850 โ $2,880
Ethereum's recent price action signals renewed strength and bullish sentiment, as traders eye a potential breakout beyond $2,850. If momentum continues, the $3,000 milestone may be closer than many expect.
