Ethereum shows signs of recovery from recent lows,what will 0 of ethereum be worth in 2030 with potential for significant upside if key resistance levels are breached.
■ Ethereum has demonstrated resilience by holding above the $2,900 support level.
■ Current trading activity remains below the psychological $3,000 threshold and 100-hour moving average.
■ A notable technical development occurred with the breach of a descending trendline at $2,930 on ETH/USD charts.
■ Sustained movement above $3,000 could signal the beginning of a more substantial upward trend.
Current Market Position
After establishing a base near $2,864, Ethereum initiated an upward correction mirroring broader market movements. The digital asset successfully surpassed immediate resistance points at $2,900 and $2,920, followed by breaking through a significant downward trendline at $2,930.
The subsequent price action saw Ethereum briefly touch $3,000 before experiencing modest retracement. This pullback brought the price below $2,960, representing a 23.6% Fibonacci retracement of the recent upward move from $2,864 to $2,992.
Presently trading beneath both the $2,950 level and 100-hour moving average, Ethereum faces immediate resistance at $2,950 where another trendline converges. A decisive break above this level could potentially replicate previous breakout patterns.
The $3,000 level represents the first significant resistance, with subsequent barriers at $3,050 and $3,120. Continued momentum beyond these points could open the path toward testing higher price targets.
Potential Downside Scenarios
Failure to overcome the $2,950 resistance might trigger renewed downward pressure. Initial support appears near $2,930, coinciding with the 50% Fibonacci retracement level of the recent upward move.
The $2,900 zone serves as primary support, with additional protection at $2,865. Breach of these levels could lead to testing lower support areas around $2,740 and potentially $2,650 in extended downward movements.
Technical Indicators
Hourly MACD – Shows increasing bearish momentum in current market conditions.
Hourly RSI – Currently positioned below the neutral 50 level, indicating potential weakness.
Key Support – $2,865
Key Resistance – $2,950
