$ETH

Breaks Out — $3K Target Now in Sight!

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Ethereum rose after finding support around $2,500. ETH$ETH is soaring and may break $2,750 barrier.

Ethereum rallied over $2,550 and $2,620.

The price is over $2,540 and the 100-hour SMA.

On the hourly ETH/USD chart, a positive trend line connects to $2,550 support.

If it breaks $2,750, the pair may strengthen.

Ethereum Price Rises

Ethereum price rose as Bitcoin hit a record high. ETH bulls pushed the price over $2,600 barrier at $2,500.

Prices rose beyond $2,620 and $2,650. Price topped $2,720. With a high of $2,731, the price is consolidating gains above the 23.6% Fib retracement line of the upward advance from $2,442 swing low to $2,731.

Ethereum is over $2,675 and the 100-hour SMA. On the hourly ETH/USD chart, a positive trend line connects to $2,550 support.

Price may find resistance at $2,740 on the upside. Around $2,750 is the next major resistance. Near $2,800 is the first significant resistance. A clean break over $2,800 might push the market above $2,840.

Above $2,840 barrier might lead to greater advances in the following sessions. Ether may increase to $2,920 or $3,000 soon.

Are ETH dips limited?

Ethereum may fall again if it fails to break $2,750. Around $2,675 is first downward support. First big support is between $2,550 and the trend line. The upward rise from the $2,442 swing low to the $2,731 high is around the 61.8% Fib retracement line.

A decisive break below $2,550 might bring the price beyond $2,500. If losses continue, the price may reach $2,450 support. Next important support is $2,420.

Tech Indicators

Hourly ETH/USD MACD is rising in the positive zone.

Hourly ETH/USD RSI is over 50.

Major Support: $2,550

Major Resistance: $2,740

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