adminIn recent developments, ethereum price started a decent upward move above $2,900. ETH is now showing positive signs and might eye more gains above $3,000. Ethereum started a recovery wave above the $2,920 zone. The price is trading above $2,950 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2,930 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it settles above the $3,000 zone. Ethereum Price Eyes More Gains Ethereum price managed to stay above the $2,880 pivot level and started a recovery wave, like Bitcoin. ETH price climbed above the $2,920 resistance to enter a positive zone. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $3,075 swing high to the $2,888 low. Besides, there is a bullish trend line forming with support at $2,930 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,950 and the 100-hourly Simple Moving Average. If the bulls are able to protect more losses below $2,950, the price could continue to move up. Immediate resistance is seen near the $3,000 level and the 61.8% Fib retracement level of the downward move from the $3,075 swing high to the $2,888 low. The first key resistance is near the $3,030 level. The next major resistance is near the $3,050 level. A clear move above the $3,050 resistance might send the price toward the $3,120 resistance. An upside break above the $3,120 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,200 resistance zone or even $3,220 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,000 resistance, it could start a fresh decline. Initial support on the downside is near the $2,950 level. The first major support sits near the $2,920 zone. A clear move below the $2,920 support might push the price toward the $2,880 support. Any more losses might send the price toward the $2,800 region. The next key support sits at $2,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,950 Major Resistance Level – $3,000
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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