Ethereum ($ETH) is currently trading in a bullish environment, showing resilience after surpassing key resistance levels around $2,720 and $2,750. It has climbed as high as $2,955, with traders eyeing the psychological barrier of $3,000 as the next target. Technical indicators suggest the possibility of further upside if Ethereum breaks resistance levels at $2,950 and $3,000, potentially driving it toward $3,120 and $3,250.
On the downside, support levels are forming near $2,850, $2,820, and $2,720. If the price drops below $2,820, Ethereum could see a correction to $2,650 or even $2,550. For traders, these levels provide opportunities for short-term positions, depending on market movements and volume.
The market remains cautiously optimistic, and many are closely watching Bitcoin's performance, as it often influences Ethereum's trajectory. As always, conducting thorough analysis and staying updated on market trends is critical for making informed trading decisions.
