Despite facing a rejection at the $2,871 resistance level, Ethereum's native coin, ETH, has displayed a powerful upward movement of over 9%. Currently, ETH is trading near $3,116, showing a 0.47% increase in the last 24 hours. Furthermore, indicators such as the 100-day moving average, trendline, and Relative Strength Index (RSI) suggest the potential for continued upward movement in ETH's price.

Technical Indicators Signal Further Upward Movement

Following the rejection at $2,871, Ethereum's ETH has shown a strong uptrend, with the coin trading around $3,116. Technical indicators like the 100-day Simple Moving Average (SMA) and trendline point towards the likelihood of ongoing upward movement. This positive momentum is visible in both the 4-hour and 1-day timeframes.