Ethereum Price Rockets Above $3K Again — Are Bulls Preparing the Next Leg Higher?
Overview
Ethereum has recently experienced a notable price surge, climbing above the $3,000 mark. This movement comes as part of a broader recovery wave that has seen ETH regain some of its lost ground, igniting discussions about potential further gains.
Recent Price Movements
Ethereum’s price began to recover, moving past the $2,950 and $3,000 levels. The cryptocurrency is currently trading above $3,000 and has positioned itself above the 100-hourly Simple Moving Average. A significant bullish trend line has formed, with support identified at $2,880 on the hourly chart for ETH/USD. This upward movement is indicative of a recovery following a prior decline.
The price has notably surpassed the 61.8% Fibonacci retracement level from a previous downward move, further solidifying the bullish sentiment among traders. As the price continues to stabilize above $3,000, it faces a key resistance level at $3,120. Should Ethereum succeed in clearing this resistance, it could pave the way for further upward movement.
Resistance and Support Levels
Currently, Ethereum’s price is approaching several critical resistance levels:
- $3,120: Immediate resistance that must be cleared for further gains.
- $3,150: Next significant resistance level.
- $3,165: Major resistance that could lead to a rally toward higher levels if surpassed.
On the downside, should Ethereum fail to break through the $3,150 resistance, it may experience a decline. Initial support is located near the $2,980 level, followed by major supports at $2,920 and $2,840. Further losses could see the price test levels around $2,800, with additional support at $2,750 and $2,740.
Technical Indicators
- Hourly MACD: The MACD for ETH/USD is showing signs of gaining momentum within the bullish zone.
- Hourly RSI: The RSI for ETH/USD has risen above the neutral 50 zone, indicating bullish momentum.
Impact on the crypto market
- Ethereum’s recovery above $3,000 may signal increased investor confidence in the cryptocurrency.
- A successful breakthrough of key resistance levels could lead to heightened trading activity and potential price rallies.
- The formation of a bullish trend line suggests a favorable technical outlook, which may attract more buyers.
- The market’s response to Ethereum’s price movements could influence other cryptocurrencies, particularly those closely correlated with ETH.
- The identified support levels provide a safety net that could stabilize Ethereum’s price in the event of a market correction.
Updated: 11/27/2025, 4:30:07 AM
