ETH bulls face a hurdle at $3,000 after an 18% surge in 2 days

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.

Join Bitcoin Magazine Telegram to follow news and comment on this article: https://t.me/coincunews

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

• LUNA overtakes ADA on the chart, next is XRP?
• March 3 Technical Analysis: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE

SN_Nour

According to Cryptopotato

Follow the Youtube Channel | Subscribe to the Telegram channel | Follow the Facebook page