Ethereum Faces Resistance at $3,000 Level, Bullish Continuation Possible

ETH

$2,961.5

+0.97%

According to CryptoPotato, Ethereum's price action has been bullish in recent weeks, breaking through several resistance levels. However, the price has now reached a key level that might cause problems. On the daily chart, the price has been rallying after rebounding from the $2,200 support level a month ago. Both the $2,400 and $2,700 resistance levels have been broken with ease, and the price has also pushed above the large ascending channel. The $3,000 resistance level is currently being tested, and the market is failing to climb higher. ETH’s price might decline toward the $2,700 level in case a correction occurs before breaking higher.