Ethereum showed exceptional results in the cryptocurrency market, surpassing the psychological mark of $3,000 and reaching a new peak.
Market Performance and Technical Breakthrough
Ethereum's price surged past the $3,000 mark, achieving a high of $3,152, outperforming Bitcoin in recent trading sessions. Technical analysis indicated a break above the bearish trend line at $2,990, with current consolidation above the $3,040 support zone.
Resistance Levels and Upside Potential
Immediate resistance for the cryptocurrency is near the $3,120 level, with the next significant barrier at $3,150. A decisive move above $3,220 could propel the asset towards the $3,300 resistance zone.
Downside Risk Assessment
Should Ethereum fail to overcome the $3,150 resistance, a downside correction could occur with initial support near $3,100. The current market structure favors continued upward movement, provided critical support levels are maintained.
Ethereum has demonstrated significant market strength, and its ability to maintain key support levels may lead to further growth. If resistance levels are overcome, the market may anticipate positive changes.
