{"id":484899,"date":"2022-03-02T06:48:26","date_gmt":"2022-03-02T06:48:26","guid":{"rendered":"https:\/\/wncen.com\/?p=484899"},"modified":"2024-06-11T07:02:16","modified_gmt":"2024-06-11T07:02:16","slug":"ethereum-could-rally-above-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-could-rally-above-3k\/","title":{"rendered":"TA: Why Ethereum Could Rally Further Above $3K"},"content":{"rendered":"
Ethereum found a strong support near the $2,300 zone against the US Dollar. ETH price is rising and might rally if it clears the $2,750 resistance zone.<\/em><\/p>\n Ethereum started a major increase above the $2,750 and $2,850 resistance levels<\/a>. ETH even cleared the $2,880 resistance level and the 100 hourly simple moving average to move into a positive zone.<\/p>\n Finally, there was a move above the $3,000 level. A high was formed near $3,042 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent wave from the $2,559 swing low to $3,042 high.<\/p>\n There is also a major bullish trend line forming with support near $2,960 on the hourly chart of ETH\/USD. On the upside, ether price is facing resistance near the $3,020 level.<\/p>\n <\/a><\/p>\n The first major resistance is seen near the $3,040 and $3,050 levels. A clear move above the $3,050 level might open the doors for more gains. In the stated case, the price may possibly rise towards the $3,120 level. The next major resistance is now near the $3,200 level. Any more gains might send the price towards the $3,320 level.<\/p>\n If ethereum fails to continue higher above the $3,050 resistance, it could start a downside correction. An initial support on the downside is near the $2,980 level. The next major support is near the $2,960 level and the trend line.<\/p>\n\n
Ethereum Price Remains Supported<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n