TA: Ethereum Breaks Great Resistance, Here Is Why ETH Could Test $ 3K?

Ethereum pushed its move against the US dollar above the $ 2,750 resistance zone. The price of ETH is showing positive signs and may climb to $ 3,000 or more. Ethereum pushed its rally above the $ 2,650 and $ 2,750 levels. The price is currently trading above the $ 2700 support and the simple hourly moving average of 100. There was a break above a major downtrend line with resistance at $ 2600 on the chart. Hourly ETH / USD (data stream over Kraken). The pair is now showing signs of more gains above $ 2,900 and $ 2,950. Ethereum's price is still good. Ethereum continued to be supported above the $ 2,500 level and continued its bullish wave. There was a break above the $ 2,600 and $ 2,650 resistance levels and opened the doors to a steady uptrend. There was an open break above the 61.8% Fib retracement level of the downside from $ 2.742 to $ 2.375. Additionally, there was a break above a major bearish trend line with resistance around $ 2,600 on the hourly chart of ETH / USD. Ether price is currently trading above the $ 2,700 support and the 100 hourly easy moving average. It finally reached a level near $ 2,742 and is currently trading above $ 2,800. Source: ETHUSD on TradingView.com Also testing the 1.236 Fib expansion level of the bearish move from the $ 2,742 low to $ 2,375 low. If there are more gains, the price could test the $ 2,950 resistance. The next major resistance is near the $ 3000 level where the price could rise to the $ 3000 level. Are the drops in ETH limited? If Ethereum does not continue above the $ 2,900 and $ 2,900 resistance levels, it could trigger a downside correction. Initial bearish support is near the USD 2750 area. The first major support is near the $ 2,650 level. Even more losses could push the price into the $ 2,550 support area and the simple 100 hourly moving average. Hourly MACD Technical Indicators – The MACD for ETH / USD is now gaining momentum in the bullish zone. RSI per hour – RSI for ET

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