Bulls on the Loose: Ethereum’s $3K Frenzy 🚀

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It appears the Ethereum chaps have got their tails up, what with the price starting a fresh increase above the $2,720 zone and all that rot. The blighters are now consolidating gains, and one wouldn’t be surprised if they made a dash for it above $2,800, eh? 🤑

  • Ethereum’s started a ripping new increase above the $2,650 level, old bean.
  • The price is trading above $2,720 and the 100-hourly Simple Moving Average, which is spiffing, if I do say so myself.
  • There’s a dashed key parabolic curve forming with support at $2,750 on the hourly chart of ETH/USD, courtesy of those frightfully clever chaps at Kraken.
  • The pair could start a fresh increase if it remains supported above the $2,720 zone in the near term, or so one would hope, anyway.

Ethereum’s price has started a fresh increase above the $2,650 zone, leaving Bitcoin in the dust, I dare say. ETH price gained pace for a move above the $2,720 resistance zone and entered a ripping positive zone, if you please.

The price even had a bash at the $2,800 resistance, and a high was formed at $2,795, but now it’s just consolidating gains, the lazy blighter. Still, it’s stable above the 23.6% Fib retracement level of the upward move from the $2,516 swing low to the $2,795 high, so that’s all right, then.

Ethereum price is now trading above $2,720 and the 100-hourly Simple Moving Average, and there’s that dashed key parabolic curve forming with support at $2,750 on the hourly chart of ETH/USD, which should keep things ticking along, one hopes.

On the upside, the price could face resistance near the $2,800 level, but I daresay it’ll just shrug it off and carry on, eh? The next key resistance is near the $2,840 level, and the first major resistance is near the $2,880 level. A clear move above the $2,880 resistance might send the price toward the $2,910 resistance, and then, of course, it’s anyone’s game, old chap.

An upside break above the $2,910 resistance might call for more gains in the coming sessions, and one wouldn’t be surprised if Ether rose toward the $2,980 resistance zone or even $3,000 in the near term, the bounder.

If Ethereum fails to clear the $2,800 resistance, it could start a fresh decline, which would be a dashed shame, if you ask me. Initial support on the downside is near the $2,750 level, and the first major support sits near the $2,720 zone, so let’s hope it doesn’t come to that, eh?

A clear move below the $2,720 support might push the price toward the $2,650 support or the 50% Fib retracement level of the upward move from the $2,516 swing low to the $2,795 high, which would be a bit of a blow, old bean. Any more losses might send the price toward the $2,550 support level in the near term, and the next key support sits at $2,500, so fingers crossed, and all that rot.

Technical Indicators, and all that jazz:

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone, which is spiffing.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone, so that’s all right, then.

Major Support Level – $2,720, just in case you were wondering.

Major Resistance Level – $2,800, the bounder.

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2025-07-10 06:24