- Ethereum rises gradually and exhibits positive signals beyond the support floor of $3K.
- Ethereum trades above $3,050 and 100hr SMA.
- ETH/USD’s one-hour chart shows a bullish live emerging with $3,050 support.
- Ethereum consolidated around the $3,150 mark and might extend upside in the short term.
Ethereum price moves higher beyond the $3,050. The alternative coin rides bullish waves and might close past $3,150.
Ethereum Ready for More Surges
Ethereum maintained its price movements well past the support area of $2,950. The leading altcoin extended the leg-up to clear the resistance at $3,050. The impressive bullish actions had Eth climbing beyond $3,120 to settle above 100hr SMA. Meanwhile, the crypto hit another multi-week peak at $3,147 and shows positive signs at the moment. Ethereum has its price past the 23.6% Fibonacci retracement of the $3,006 – $3,147 price move.
Furthermore, the 1-hour chart shows a massive bullish trend-line developing with $3,050 support. Uptrends will encounter an initial hurdle near $3,150.
The following massive resistance sits at $3,200. Ethereum might witness further uptrends if it overcomes the resistance at $3,200. That way, the leading altcoin might explore the $3,250 value area. More increases will see ETH challenging the resistance near $3,350 in the up-and-coming sessions.
Ethereum Dips Limited?
Ethereum might record downside corrections if it fails to trigger new surges past $3,150. The downside journey will find the first support area at $3,110. The following foothold for Ether will emerge at $3,070, the level near 50% Fibonacci retracement of the climb to $3,147 from $3,006.
Ethereum’s primary support sits at $3,050 and the trend-line. Breaching this footing might push the alternative coin further low. In such a case, Ethereum might fall towards $3,000.
For now, top assets in the crypto-list trade with bullish biases. The tokens seem prepared for extended surges in the short term. Meanwhile, Bitcoin’s price reactions remain crucial in the altcoin market. Sudden fall will trigger bearish motion in altcoins. Analysts point at more upside for Ethereum. Nevertheless, brief slumps seem possible before the assets embark on massive upswings.
ETH Technical Indicators
Crucial support area – $3,050.
Major resistance area – $3,150.
