Ethereum Price Forecast: ETH Prepares for Final Release Beyond $3,000

Trading Ethereum this week has produced significant returns for the bulls. $2,400 support was defended at all costs during the weekend session; therefore, buyers channeled all their efforts to maintain the uptrend. The breach above $2,500 on Monday sent Ether above $2,600. However, the leading stoke seems to be struggling with another $2,650 hurdle. At the time of writing, Ethereum is trading at $2,587 as the bulls are fighting an uphill battle to clear the way to $3,000. Is Ethereum's short-term outlook strong enough for an uptrend? The four-hour moving average convergence divergence (MACD) has bullish momentum. This follows recovery from negative territory to positive territory. Note that the MACD follows the trend of the asset and measures the momentum. Traders use the MACD to identify positions to sell the top or buy at the bottom. Signals from the indicator force traders to make certain decisions. For example, when the MACD line breaks above the signal line, it is a buy call. On the other hand, going below the signal line is a sell call. At the moment, Ether appears to be in a buy zone, especially as the MACD line extends the divergence above the signal line. Also, the indicator has crossed above the zero line in the positive area. This massive bullish signal could attract more investors as they speculate on eventual gains above USD 3,000. ETH/USD 4-Hour Chart by Tradingview The ETH/USD Price Chart Just down is protected by the 100 Simple Moving Average (SMA) on the same 4-hour chart. If this support remains solid and unbroken, ETH's path of least resistance will be up. It's worth keeping in mind that the top hurdle is $2,650. If it breaks, Ether will start its journey towards $3,000, but if it remains intact, the overall pressure will increase as Ethereum falls to retest at $2,400. Ethereum Intraday Levels Spot: $2,587 Trend: Rising Volatility: Increasing Resistance: $2,650 Support: $2,400 The Post Et

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