Ethereum has recorded an impressive new surge, surpassing the important resistance at the $2,800 region and continuing to show positive signals in the market. Along with Bitcoin's strong recovery, this surge has brought ETH closer to the psychological mark of $3,000, opening new prospects for investors.

Impressive Uptrend and Current Price Range

After stabilizing around the $2,750 region, Ethereum began a new upward trend, quickly surpassing resistance levels at $2,800 and $2,850 respectively. The bullish momentum continues to be maintained, as the price has risen to a peak of $3,000 before entering a short-term accumulation phase.

Currently, ETH is trading steadily above $2,880 and the 100-hour simple moving average (100-hourly SMA), indicating that the bullish trend is still prevailing. A key uptrend line is also forming, providing solid support at the $2,885 area on the hourly chart of the ETH/USD pair (data source from Kraken).

Resistance Levels and Short-Term Targets

On the bullish side, Ethereum is facing the nearest resistance at $2,980. The next key mark is $3,000 – a price level that carries psychological and technical factors. If the bulls can surpass this area, the next strong resistance will be at $3,040. A clear breakout above $3,040 could trigger new bullish momentum, pushing the price further to levels of $3,120, $3,200, and even $3,220 in the short term.

Adjustment Risk If $2,880 Is Not Maintained

In the event that Ethereum cannot surpass the $3,000 threshold, a correction is entirely possible. The nearest support lies at $2,920, followed by the critical level at $2,880 – which is also the area where the uptrend line is active. If this threshold is breached, ETH could drop to the $2,750 area – coinciding with the 50% Fibonacci retracement level of the surge from $2,515 to $3,000.

If selling pressure is stronger, the next support areas to pay attention to are $2,720 and further down at $2,650 – where it could serve as a temporary balancing point before the market decides the next trend.


Technical indicators support the bullish trend

  • The MACD (on the hourly chart) is accelerating in the positive zone, indicating that the bullish momentum is still being maintained.

  • The RSI (Relative Strength Index) has risen above 50, further reinforcing the bullish signal in the short term.

Summary

Ethereum is in a positive trend, with solid support levels at $2,880 and expectations of breaking the $3,000 mark. If this important resistance level is surpassed, the next surge could push ETH to higher price levels in the near future. However, investors still need to closely monitor the $2,880 area and potential reversal signs to adjust their trading strategies accordingly.