According to sources, the Ethereum price has recently risen above $2,700. It is now crossing the important technical levels and showing bullish momentum.
Traders are closely watching to see whether it can move above $2,600. Experts are discussing whether this bullish trend will continue.
The recent surge is largely attributed to the successful May 7 Pectra network upgrade, which has enhanced Ethereum’s scalability and efficiency.
Growing interest from institutions, higher trading volumes, and strong support from both retail and institutional investors are also propelling momentum. Analysts believe that it could reach $3,000 soon if it breaks the current resistance level.
Fresh Momentum Fuels Ethereum Price Recovery
After recently finding support near $2,400. The Ethereum price has been rising steadily and moving past earlier resistance points at $2,500 and $2,550.
Ethereum Climbs to $2,724: Why Analysts Say $3,000 May Be Next 3
Many market analysts think that this rise has mainly happened because of the continued buying interest and growing positive Sentiments across the crypto market.
According to Technical charts, the ETH is staying above the 100-hourly Simple Moving Average. This structure is giving traders confidence that the current upward trend could continue, as long as there aren’t any sudden drops.
Resistance Levels in Focus
Currently, the Ethereum price is struggling to move past the $2,720 level, and the next big barrier is seen at $2,740. If ETH breaks above this point, then analysts say that it might lead to another strong move upward.
It can possibly reach $2,840 or even $2,920 according to its recent hourly chart patterns. Crypto analyst Vishal Narang explained that this is looking like a typical strong upward trend.
He said that if the Ethereum price moves above $2,740 with strong trend activity, then it might quickly rise further and hit the levels where it has faced resistance in the past.
Metrics Value Source Current Price $2,676.25 CoinMarketCap 24 hour Trading Volume $27.11B CoinMarketCap Recent 24 hour High $2,724.37 CoinMarketCap Resistance Level $2,700–$2,750 CoinMarketCap June Forecast $3,014.51 Changelly All Time High (Nov 2021) $4,891.70 CoinMarketCap
Support Remains Strong, But Caution Lingers
Even though there are bullish Sentiments, experts warn that it is too early to be fully confident. If the Ethereum price can’t clearly break above $2,740, then it might fall back.
Moreover, ETH can test the lower support levels. The first support is around $2,640, which is followed by a stronger level of support near $2,580.
Market expert Leena Khatri said that buyers are quickly stepping in when the Ethereum price drops, which is a positive sign. However, if ETH falls below $2,580, it could go down further to around $2,540 or even $2,450.
These multiple support levels give traders some relief and confidence, but the market is still very sensitive to big economic news and important events in the crypto world.
Cautious Uptrend, Analysts Advise Patience
Currently, the Ethereum price is trading around $2,680.93, and the short-term outlook is hopeful but careful. Experts say that if ETH stays above the $2,540 trendline, then it is more likely to keep moving upward.
Ethereum Climbs to $2,724: Why Analysts Say $3,000 May Be Next 4
However, the experts also warn not to take big risks, because the Ethereum price is still below its highest point of the year, and there are still large economic challenges present.
Conclusion
Ethereum price’s recent surge above $2,700 lifts market mood. The price is staying strong because of good support levels, more big investors getting involved, and due to the recent upgrade to Ethereum. But experts are still careful, they say that Ethereum must go past the $2,740 level to really move higher.
FAQs
1. What is the current Ethereum price level?
Currency priced at $2,680.93
2. What is the next target for Ethereum?
Analysts believe it could reach $3,000 soon.
3. Where is Ethereum facing resistance now?
ETH is stuck near $2,720, with a major hurdle at $2,740.
4. What is supporting the current uptrend?
ETH is holding above the 100-hourly SMA with a rising trend line.
5. Are analysts fully bullish on ETH now?
Cautious optimism remains, and we are waiting for a clear breakout.
Glossary
SMA – A steady line that filters the noise and tracks the trend.
Trend Line – A visual guide that shows where ETH has been heading, like footprints on a chart.
Buying Interest – Traders showing up with intent to own, not watch.
Chart Pattern – Market behaviour, drawn in shapes. Traders read it like a roadmap.
Cautious Optimism – A hopeful outlook, but with one eye on the exit.
Sources
NewsBTC
CryptoRank
Changelly
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