đ ETH Breaks Out â $3K Target Now in Sight!
Ethereum rose after finding support around $2,500. 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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