ETH Breaks Through $3,000 Barrier, Cryptocurrency Trend Surpasses Bitcoin

Ethereum has broken through the $3,000 barrier, reaching a high of $3,152, showing strong support against Bitcoin in the latest cryptocurrency market trend. The second-largest digital asset, Ethereum, has started a new upward trajectory from the $2,880 area, with trading data from Kraken indicating that Ethereum continues to maintain upward momentum above key technical levels.

Ethereum's price soared above $3,000, peaking at $3,152, outperforming Bitcoin in recent trading days. Technical analysis shows a break above the bearish trend line at $2,990, currently consolidating above the support area of $3,040. Key resistance levels are at $3,150 and $3,220, with potential upward targets of $3,300 to $3,450.

Current price trends indicate that Ethereum is consolidating above the 23.6% Fibonacci retracement level, calculated from the low of $2,935 to the high of $3,152. The digital asset remains above the psychological level of $3,000 and the 100-hour simple moving average, indicating sustained bullish sentiment.

Technical analysis shows that on the hourly chart, the bearish trend line (resistance at $2,990) has been significantly broken. This trend suggests that the market structure may be shifting, favoring continued upward momentum.

Further upward momentum beyond $3,300 may target the resistance area at $3,420, or aim for $3,450 in subsequent trading days.

Sustained support above $3,000 remains crucial for Bitcoin's continued rise. Whether this cryptocurrency can maintain this level will likely determine whether the current uptrend will continue or face a pullback.