Ethereum price is gaining bullish momentum above the $2,700 support. ETH remains supported and eyes more upsides toward the $3,000 resistance.Ethereum is consolidating gains above the $2,770 support zone.The price is trading above $2,780 and the 100-hourly Simple Moving Average.There is a key bullish trend line forming with support at $2,700 on the hourly chart of ETH/ USD (data feed via Kraken).The pair could continue to move up toward the $3,000 resistance zone.Ethereum Price Remains In Strong UptrendEthereum price remained well-bid above the $2,650 level. ETH settled above the $2,700 barrier to move further into a positive zone, like Bitcoin. The bulls were able to pump the price above the $2,750 and $2,800 levels. A new multi-week high was formed near $2,826 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent rally from the $2,589 swing low to the $2,826 high. There is also a key bullish trend line forming with support at $2,700 on the hourly chart of ETH/USD.Ethereum is now trading above $2,780 and the 100-hourly Simple Moving Average. Immediate resistance is near the $2,825 level. The first major resistance is near the $2,850 level. The next major resistance is near $2,880, above which the price might rise and test the $2,950 resistance.
$ETH If the bulls push the price above the $2.950Are Dips Limited In ETH?If Ethereum fails to clear the $2,825 resistance, it could start a downside correction. Initial support on the downside is near the $2,770 level. The next key support could be the $2,725 zone. A clear move below the $2,725 support might send the price toward the trend line at $2,700 or the 50% Fib retracement level of the recent rally from the $2,589 swing low to the $2,826 high. The main support could be $2,640 or the 100 hourly SMA. Any more losses might send the price toward the $2,550 level.Technical IndicatorsHourly MACD - The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI - The RSI for #ETH/USDT.P is now above the 50 level. Major Support Level - $2,700Major Resistance Level - $2,880
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