Ethereum has once again shown its strength! After being quiet for a while, it finally broke free, surging from $2750, breaking through the $2800 resistance zone, and quickly reaching above $2880, almost conquering the $3000 mark in one go!

So here’s the question: Is ETH about to take off directly, or is it rising too quickly short-term and needs to pause? Let’s delve into the 'inner workings' of this market trend.

🐂 Bulls are on the rise, ETH is soaring.

This surge is not coincidental. Just like its good brother Bitcoin, ETH has entered a rampage mode above $2750. It directly broke through the key resistance zone of $2800 and soared.

The bulls are firing on all cylinders, even pushing the price above $2880. What’s more, it has already touched the $3000 mark! Although it hasn't fully stabilized yet, the momentum has already stirred excitement.

Currently, ETH price is steadily above the 23.6% Fibonacci retracement level of this rally from $2515 to $3000—what does this mean? Simply put, after a surge, even if it takes a 'break', it’s still adjusting at a high level, preparing to surge again at any time.


📈 How to read the technical chart? The trend line supports it!

ETH’s current performance is not just driven by sentiment; it is also very strong technically.

👉 The current ETH price is still stable above the 100-hour simple moving average, indicating that the trend is still in the hands of the bulls.

👉 More importantly, from the hourly chart, a key upward trend line is forming, with the support level around $2885. This means that as long as it doesn’t break below this level, the overall bullish structure remains intact!

🔍 Where’s the next key resistance?

Of course, for ETH to continue rising, it still needs to overcome several hurdles.

🔹 The first minor resistance level: $2980.

🔹 Key resistance level: $3000.

🔹 If it breaks above $3000, the strong resistance it might encounter: $3040.

Once $3040 is strongly broken through by the bulls, it would mean that ETH has completely entered a new round of rising momentum, making $3120, $3200, or even $3220 possible.

⚠️ So what if it can’t rise anymore? Is there a 'safety net'?

Investing is like dating; you can’t always only look at the good side. We also need to see if ETH will 'fall hard' if this surge fails.

🔻 The first layer of support is around $2920, which can be understood as a small step; a pullback here is considered normal.

🔻 If the bulls really run out of steam, $2880 is the critical 'lifeline', and it’s also where the bullish trend line is located.

🔻 If it unfortunately falls below, ETH is likely to retest previous support levels, such as $2750, or even the 50% retracement level of this rally around $2760~$2720.

🔻 If the market gets extremely emotional, it might even dip to the support level of $2650—but currently, this probability seems low; a major black swan event would need to occur for that to happen.

📊 How to interpret the technical indicators? Here’s a beginner-friendly explanation!

It's okay if you don't understand chart analysis; let me simply explain these two indicators below so you can also 'read the market':

🔹 MACD indicator: currently in the bullish area, indicating that market momentum is still rising. You can understand it as: ETH right now is like a race car that has activated 'nitrous boost'.

🔹 RSI (Relative Strength Index): currently above 50, indicating that there are still many buyers, and the market sentiment hasn’t cooled down.

In summary, from a technical perspective, ETH is still within a healthy upward channel and there are no particularly dangerous signals.

🎯 Here’s the key point: Will ETH break through $3000?

The answer to this question can actually be summed up in two words: There’s potential!

Why do I say this? Because market sentiment is warming up, funds are starting to flow back, and with BTC also fluctuating at a high level, it provides a good upward environment for ETH.

Moreover, from past experiences, once ETH firmly stands above the $3000 mark, it often triggers a wave of FOMO (fear of missing out) sentiment, leading to a surge rather than a slow climb towards $3200!

🤔 Summary: Is it too late to get in now?

✅ In the short term, the upward trend of ETH remains strong; there’s no need to worry too much until it breaks below 2880.

✅ From a medium-term perspective, as long as it breaks and stabilizes above $3000, a target of $3200 is completely reasonable.

⚠️ Risk reminder: be cautious when chasing the rise, set stop-losses, and don’t go all in; if the market pulls back, know when to take profits.