ETH Breaks $3,000 Barrier — Is the Bull Run Back?
Above $2,800, Ethereum price rose again. ETH may consolidate gains and reach beyond $3,000.
Ethereum rose again over $2,850.
The price is over $2,840 and the 100-hour SMA.
On the hourly ETH/USD chart, a positive trend line with support around $2,885 is formed.
If supported over $2,840, the pair may rise again.
Ethereum Price Rises Above $2,880
Like Bitcoin, Ethereum price rose beyond $2,750. ETH price moved over $2,800 barrier and into a bullish zone.
Bulls drove prices over $2,880. Finally, the $3,000 zone was tested. Price is consolidating gains after hitting $3,000 high. It remains solid above the 23.6% Fib retracement of the $2,515 swing low to $3,000 high upward rise.
Ethereum is over $2,880 and the 100-hour SMA. On the hourly ETH/USD chart, a positive trend line with support around $2,885 is formed.
Price may find resistance at $2,980 on the upside. Near $3,000 is the next resistance. Around $3,040 is the first substantial barrier. A clean break over $3,040 might push the price above $3,120.
Above $3,120 barrier might lead to greater advances in the following sessions. Ether may soar to $3,200 or $3,220 soon.
Are ETH downsides limited?
Ethereum may fall if it fails to break $3,000 barrier. Near $2,920 is first downside support. First big support is between $2,880 and the trend line.
A clean break below $2,880 might bring the price near $2,750 or the 50% Fib retracement level of the upward advance from $2,515 swing low to $3,000 high. If losses continue, the price may reach $2,720 support. Next important support is $2,650.
Tech Indicators
Hourly ETH/USD MACD is rising in the positive zone.
Hourly ETH/USD RSI is over 50.
Major Support: $2,880
Major Resistance: $3,000.
