TA: Ethereum surpasses $ 3,000, here the rally isn't over yet

Ethereum extended its rally and traded at a new high of over $ 3,000 against the US Dollar. The price of ETH is showing signs of more gains towards $ 3,100 and $ 3,150. Ethereum remained well supported above $ 2,800 and crossed the $ 3,000 threshold. The price is currently trading well above $ 3,000 and the hourly simple moving average is 100. A major bullish line is forming with support near $ 2,990 on the hourly chart of ETH / USD (data streaming via Kraken). The pair may correct downside, but the bulls should break out around $ 3,000 and $ 2,950. Ethereum price remains in an uptrend Ethereum remained well supported and gained momentum above the $ 2,850 resistance. ETH surpassed Bitcoin and even erased the $ 3,000 resistance zone. The all-time high traded around $ 3060 and stabilized well above the 100 hourly simple moving average. The price is showing positive signs and may continue to climb above USD 3060. On the downside, the initial support is near the $ 3,030 level. The 23.6% Fib retracement level of the last wave from the $ 2,928 low to $ 3,061 high is also near $ 3,030. The next major support is near the $ 2,995 level. A major bullish trend line is forming with support near $ 2,990 on the hourly chart of ETH / USD. Source: The ETHUSD Trend line on TradingView.com is near the 50% Fib retracement level of the last wave of $ 2,928 to $ 3,061. For even more losses, the $ 2,925 and $ 2,920 support levels may need to be tested in the short term. The next major support is near the $ 2,850 level and the easy hourly moving average is 100. More advantages in ETH? If the Ethereum trend line remains stable above $ 3000 and its support, it could continue to rise. Initial resistance to the upside is near the $ 3,060 level. The first major resistance is near the $ 3,085 level. It could open the doors for a distinct bullish boom above the $ 3,085 level and a move above the $ 3,100 level. The next big hurdle for the bulls could be near the $ 3,150 level.

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