Ethereum has had a great rally over the past two days and has hit a key resistance at $3,000. Can it go any further?

• Major support levels: $2,500, $2,300
• Key resistance levels: $3,000, $3,400

After rallying nearly 18% in two days, resistance at $3,000 held back ETH’s bullish momentum. The price has failed to move higher and could see a short-term pullback towards the $2,800 or $2,500 support.

Technical indicators

Volume: Volume has fallen during the recent rally, raising some doubts about the uptrend.

RSI: The daily RSI is at 55 and is showing signs of sideways movement. If ETH fails to break the critical resistance, the RSI will confirm a lower high, which is a bearish signal.

MACD: The daily MACD has formed a bullish cross and is rising. If ETH has even a slight correction, it will not be enough to change the current trend.

ETH/USDT daily chart | Source: TradingView

perspectives

ETH’s current trend is bullish in the short-term, but the price should break the $3,000 level soon. Otherwise, the mood may change.

Short term price prediction

ETH is looking to move higher but sellers are actively defending the $3,000 resistance. If this level does not turn into support, the rally will stall.

You can see the ADA prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions

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