TA: Here’s Why Ethereum (ETH) Could Surge Above $2.7K and Test $3K

TA: Here’s Why Ethereum (ETH) Could Surge Above $2.7K and Test $3K


Ethereum is stable above the $2,500 support zone and the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,700.

Ethereum is trading in a positive zone above the $2,500 and $2,520 support levels. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it breaks the $2,750 resistance zone in the near term. Ethereum Price Is Showing Positive Signs

Yesterday, ethereum gained pace above the $2,500 resistance zone. ETH broke the $2,600 resistance zone and it settled nicely above the 100 hourly simple moving average.

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The price even traded close to the $2,750 level and a high was formed near $2,746. Recently, there was a downside correction below the $2,700

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