Ethereum has started a new recovery phase and has surpassed many important resistance levels, especially the area around $3,020. Currently, ETH is trading above $3,000 and shows signs of consolidation before making the next move.

Ethereum's price increase is strengthened

After dropping to the support zone of $2,880, Ethereum has rebounded strongly and surpassed many technical barriers. The price surged above the $2,950 zone and broke through a significant downtrend line at $2,990 on the hourly chart of the ETH/USD pair (data from Kraken).

Not stopping there, ETH has approached and tested the resistance zone of $3,150, creating a short-term peak at $3,152. Currently, the price is accumulating profits near the Fibonacci 23.6% level calculated from the bottom of $2,935 to the peak of $3,152. Ethereum is holding above the 100-hour simple moving average (SMA 100) and is fluctuating around $3,050.

Important resistance levels to watch

  • Nearest resistance: $3,120

  • Main resistance: $3,150

  • Stronger resistance: $3,220

  • Further targets if breakout: $3,300 – $3,420 – $3,450

If ETH can decisively break through the $3,150 zone, it is highly likely that the price will move towards the $3,300 area. Closing candles above this resistance zone could pave the way for a new bullish cycle, with a target near $3,450 in the short term.

If the price corrects – which support is important?

In the scenario where Ethereum cannot surpass the $3,150 level and is rejected, a correction may occur. Important support levels to note include:

  • First support: $3,100

  • Main support: $3,040

  • Important support: $3,000

  • If it drops further: $2,950 – $2,880

In particular, the zones of $3,040 and $3,000 are seen as important barriers that could hold the price before ETH continues to recover.

What Technical Indicators Signal?

  • MACD (Hourly chart): Active in the bullish zone, indicating that buying momentum is still dominant.

  • RSI (Relative Strength Index): Maintaining above 50 – a sign that the bullish trend is still in effect.

Conclusion

The price of Ethereum is maintaining positive momentum after surpassing the $3,000 mark. Unless there is an unexpected market shock, ETH is likely to test and break through the $3,150 level soon. However, closely monitoring support zones such as $3,040 and $3,000 is also very important to mitigate risks if the market turns to correct.