Ethereum grew by 5% per day

Ethereum ETH $2,329.19 Bridged Ether (StarkGate) -1.14% Market capitalization $42.73 million VOL. 24 hours $0.49 billion has confidently regained ground, surpassing the $ 3,000 mark after a wave of decline. The cryptocurrency rose by more than 5%, holding above $ 2,850 and forming a new phase of growth similar to Bitcoin’s recovery. The ETH price managed to gain a foothold above $ 2,880 and $ 2,950, and also exceeded 61.8% of the Fibonacci level from the previous decline from $ 3,165 to $ 2,620.

According to Kraken, an uptrend line is forming on the hourly chart of ETH/USD with support near $ 2,880. Ethereum is trading above $ 3,000 and the 100-hour simple moving average, which indicates a buyer’s advantage. The asset also overcame the 76.4% Fibonacci retracement of the previous decline, which strengthens signals of further growth.

Analysts believe that the nearest resistance level for Ethereum is $ 3,120. If the price can gain a foothold above this level, the next key barriers are $ 3,150 and $ 3,165. A breakout above $ 3,165 could open the way to $ 3,220, and if the momentum continues, to $ 3,320 or even $ 3,350 in the short term.

However, if Ethereum fails to overcome resistance in the $ 3,150 area, a new decline is possible. The first support level is expected to be $ 2,980, followed by $ 2,920 and $ 2,840. If the price breaks through these levels, it could drop to $ 2,800 or even $ 2,740. The main support is currently in the range of $ 2,750-$ 2,740.

Technical indicators confirm the advantage of buyers: The MACD for the ETH/USD pair maintains a growing momentum in the bullish zone, and the Relative Strength Index (RSI) exceeds 50, signaling the potential for further upward movement.