CryptoUpdate – 24/7 Cryptocurrency & Blockchain News
Image default
Ethereum Price

Ethereum Price Analysis: ETH Facing Critical Resistance, Breakout and $3000 Imminent?

After wicking down towards $2300, ETH turned short-term bullish as the uncertainty around the Russia – Ukraine conflict faded. Both crypto and global markets soared over the past few days.

As of writing these lines, ETH is testing the key resistance level at $2800.

Key Support levels: $2500, $2300.

Key Resistance levels: $2800, $3000.

ETH will look forward to breaking above the $2800 key level and turning it into support in the near term. If successful, ETH will likely head even higher: the next levels to watch are $3,000 and $3,400.

However, we need to keep in mind that today is Sunday (weekend), so the volume remains low, despite price moving higher. This warrants caution, and better to wait for the new week to start.

Chart by TradingView

Technical Indicators

Trading Volume: After Thursday’s impressive reversal, this weekend is so far seeing low amounts of volume, despite the most recent price increase. An increase in price on declining volume is usually a bearish signal of a declining trend.

RSI: The daily RSI is close to moving above 50 points. Moreover, the RSI has made a higher low during last Thursday’s reversal day. These are bullish signals.

MACD: The daily MACD appears hours away from a bullish crossover. If confirmed, this would be an additional signal that ETH may continue its rally.

Chart by TradingView


The current bias for ETH is slightly bullish unless ETH will face rejection at $2800 shortly.

Short-Term Price Prediction for ETH

ETH is turning short-term bullish, proving high demand below $2800. The only worrying sign is the lack of volume over the weekend, which may doubt this price increase. Nevertheless, ETH seems well-positioned to at least test the $3,000 level in the near future, in case $2800 support would get built.


Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Read More

Related posts

Cardano Price Analysis: ADA at Decision Point, Huge Move Incoming?

Ripple Price Analysis: XRP Sees a Green Week, Against the Trend

Shiba Inu Price Analysis: SHIB Crashes Below a Critical Support, What’s Next?

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.