Ethereum Price Targets Break Above $3K, Bulls Smell Opportunity
Ethereum price started a decent upward move above $2,900. ETH is now showing positive signs and might eye more gains above $3,000. Immediate resistance is seen near the $3,000 level and the 61.8% Fib retracement level of the downward move from the $3,075 swing high to the $2,888 low. The first key resistance is near the $3,030 level. The next major resistance is near the $3,050 level. A clear move above the $3,050 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,200 resistance zone or even $3,220 in the near term. If Ethereum fails to clear the $3,000 resistance, it could start a fresh decline. Initial support on the downside is near the $2,950 level. The first major support sits near the $2,920 zone. A clear move below the $2,920 support might push the price toward the $2,880 support. Any more losses might send the price toward the $2,800 region. The next key support sits at $2,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,950 Major Resistance Level – $3,000Another Decline In ETH?
About Author
