Ethereum’s Roller Coaster: Can It Surpass the $3,050 Hurdle or Crash Down?

by

Ethereum, in its latest escapade, has decided to leap above the $2,920 mark, as if it were tired of the lower levels. Now, it’s eyeing a daring push past the $3,050 resistance, perhaps hoping for a higher adventure, or maybe just testing its luck. 🤷‍♂️

  • Ethereum began its latest ascent above the $2,920 and $2,950 thresholds, as if it had forgotten the meaning of “stability.” 🎢
  • At this very moment, it’s cruising above $2,950 and the 100-hourly Simple Moving Average, because why not?
  • There was a glorious break above a short-term bearish trend line at $2,825 on the hourly chart of ETH/USD (courtesy of Kraken, naturally).
  • If Ethereum settles above the $3,050 zone, well, expect the bulls to continue dancing. 💃

The Price That Might Just Want to Keep Climbing… or Not?

Ethereum’s price, after some nice moves above $2,720, has found a new energy, almost as if it were in competition with Bitcoin. And like any good contestant, it gained some serious traction above the $2,850 and $2,880 resistance levels. 🔥

Breaking past the short-term bearish trend line at $2,825 was the easy part. Now, it’s testing the mighty $3,050 level, where it seems to be consolidating like a confused traveler deciding whether to board the next train. 🚉

The price is now hanging above $2,950, like a daring acrobat on a high wire. If it moves upwards, the $3,050 resistance could be its next challenge. It’s like a game of “Will it or won’t it?”

The next obstacle on this thrilling ride is the $3,080 mark. If Ethereum surpasses that, well, there’s talk of $3,120 and possibly even a daring push towards $3,200. If it really gets carried away, we might even see it touching $3,350, or dare we say $3,380? 🚀

Will Ethereum Tumble? Maybe.

If Ethereum fails to break free from the $3,050 resistance, it could go tumbling down, like a toddler’s first attempt at walking. The first stop on this downward journey? $2,970. From there, who knows-$2,880 might be next. 🏃‍♂️

If Ethereum slips further, expect to see it hover around $2,800, possibly flirting with $2,750, or even testing the $2,720 and $2,710 zones. Not the most exciting places to be, but we all need some downtime, right? 😴

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum, in case you were wondering if it’s still bullish. 🔥

Hourly RSI – The RSI for ETH/USD is now above the 50 zone, like it’s feeling optimistic about its next move. 💪

Major Support Level – $2,970

Major Resistance Level – $3,050

Read More

2025-12-03 06:48