Ethereum Shows Off, Leaves Bitcoin in the Dust 🚀💰

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Ethereum price started a fresh increase above the $3,020 zone. ETH is now consolidating gains and might correct lower toward the $3,040 zone. But who cares, right? It’s all about the gains, baby! 🎉

  • Ethereum started a fresh increase above the $3,040 level. Like, who even needs a vacation when you can just watch ETH climb?
  • The price is trading near $3,050 and the 100-hourly Simple Moving Average. It’s like a roller coaster, but with less screaming and more 🤑.
  • There was a break above a bearish trend line with resistance at $2,990 on the hourly chart of ETH/USD (data feed via Kraken). It’s like Ethereum just said, “Nope, not today, bearish trend!”
  • The pair could start a fresh increase if it remains supported above the $3,000 zone in the near term. Fingers crossed, or should I say, wallets crossed? 🙏

Ethereum price started a fresh increase above the $2,880 zone, outperforming Bitcoin. ETH price gained pace for a move above the $2,950 resistance zone and entered a positive zone. It’s like Ethereum is saying, “I’m not just a cryptocurrency, I’m a movement!”

The bulls even pumped the price above $3,050. There was a break above a bearish trend line with resistance at $2,990 on the hourly chart of ETH/USD. Finally, it tested the $3,150 zone. A high was formed at $3,152 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $2,935 swing low to the $3,152 high. It’s like Ethereum is flexing its muscles and saying, “Who’s the boss now?”

Ethereum price is now trading above $3,000 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,120 level. The next key resistance is near the $3,150 level. The first major resistance is near the $3,220 level. A clear move above the $3,220 resistance might send the price toward the $3,300 resistance. It’s like Ethereum is on a mission to break all the charts and make us all rich. 💰🚀

An upside break above the $3,300 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,420 resistance zone or even $3,450 in the near term. It’s like Ethereum is saying, “I’m just getting started!”

Are Downsides Limited In ETH?

If Ethereum fails to clear the $3,150 resistance, it could start a downside correction. Initial support on the downside is near the $3,100 level. The first major support sits near the $3,040 zone. But let’s be real, who wants to talk about downsides when we can talk about all the gains? 🤑

A clear move below the $3,040 support might push the price toward the $3,000 support. Any more losses might send the price toward the $2,950 support level in the near term. The next key support sits at $2,880. But hey, even if it dips, it’s still Ethereum, and Ethereum always bounces back. 💪

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. It’s like the MACD is giving Ethereum a big thumbs up! 👍

Hourly RSI – The RSI for ETH/USD is now above the 50 zone. It’s like Ethereum is saying, “I’m feeling good, and I’m just getting started!”

Major Support Level – $3,000

Major Resistance Level – $3,150

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2025-07-16 07:00