The price of Ethereum (one of the top altcoins) has been exhibiting positive signs and has managed to surpass the crucial support level of $2,850. Currently, Ethereum is trading above both the $2,850 mark and the 100-hourly Simple Moving Average, which indicates a bullish sentiment in the crypto market. On the hourly chart of ETH/USD, there is a notable bullish trend line forming with a support level of $2,910.
Looking at the upside potential, the immediate resistance level is situated around $2,940. If Ethereum manages to surpass this resistance, the next major hurdle awaits at $2,985. A successful break above this level could potentially lead to a test of the $3,000 resistance zone.
Should the bulls push the price past $3,050, Ether may experience a rally toward the $3,120 resistance level. In such a scenario, the price might even reach the $3,250 mark in the near term, and further gains could test the $3,350 level.
Source: NEWSBTC
