TA: Ethereum Surges Above $3K, Here’s Why Rally Isn’t Over Yet

HeadlinesNewsTA: Ethereum Surges Above $3K, Here’s Why Rally Isn’t Over Yet

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TA: Ethereum Surges Above $3K, Here’s Why Rally Isn’t Over Yet

NewsBTC1 week ago
Published on May 03, 2021 04:38 GMT+0edited on May 03, 2021 06:02 GMT+0

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Ethereum extended its rally and it traded to a new all-time high above $3,000 against the US Dollar. ETH price is showing signs of more upsides towards $3,100 and $3,150.

  • Ethereum remained well supported above $2,800 and it broke the $3,000 level.
  • The price is now trading well above $3,000 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $2,990 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower, but the bulls are likely to appear near $3,000 and $2,950.

Ethereum Price Remains In Uptrend

Ethereum remained well supported and it gained pace above the $2,850 resistance. ETH outpaced bitcoin and it even cleared the $3,000 resistance zone.

It traded to a new all-time high near $3,060 and it settled nicely …