Ethereum News Today: Ethereum Surges 9.5% to $3,152, Outpaces Bitcoin

Ethereum has shown remarkable strength in recent trading sessions, surging past the $3,000 threshold and reaching a peak of $3,152. This upward momentum began from the $2,880 zone, with sustained buying pressure above key technical levels. The cryptocurrency's performance has outpaced Bitcoin, indicating renewed interest in alternative digital assets.

The ongoing bullish momentum now sets sights on the next major target around the $3.5K-$3.7K zone. Ethereum has sustained its upward trajectory, building on the bullish momentum that drove it above the key $3K psychological resistance. This breakout marks a strong show of force from the buyers, who have been in control since the asset pushed past the major $2.8K level.

The market is now approaching a significant supply zone between $3.2K and $3.4K, an area historically associated with increased selling pressure. A successful push through this order block could signal further upside, with price targets at the $3.7K and potentially $4.1K levels. The ongoing rally suggests that ETH may be setting the stage for a fresh attempt toward its all-time highs, pending confirmation from the next price action developments.

In the lower time frame, ETH’s strength remains evident. The chart displays a series of strong bullish candles, reflecting a surge in buying activity. However, the price has now encountered a key resistance region near $3.5K. If the cryptocurrency fails to decisively break above the $3.5K threshold, it may continue to fluctuate within the $3K-$3.5K zone in the short term. A breakout above this range would likely reintroduce bullish momentum, while a rejection could prolong the consolidation.

Technical analysis indicates that Ethereum has broken above a bearish trend line at $2,990, with current consolidation above the $3,040 support zone. This development suggests a potential shift in market structure favoring continued upward momentum. Key resistance levels have been identified at $3,150 and $3,220, with potential upside targets reaching $3,300 to $3,450. The cryptocurrency's ability to maintain these levels will likely determine whether the current rally extends or faces correction.

Immediate resistance confronts Ethereum near the $3,120 level, with the next significant barrier positioned at $3,150. Should Ethereum clear these obstacles, the first major resistance awaits near $3,220. A decisive move above $3,220 could propel the asset toward $3,300 resistance. Further upside momentum beyond $3,300 may target the $3,420 resistance zone or potentially $3,450 in subsequent trading sessions.

However, should Ethereum fail to overcome the $3,150 resistance, a downside correction could materialize with initial support positioned near $3,100. The first major support zone sits at $3,040, representing a critical level for bulls to defend. A clear break below $3,040 support might drive the price toward $3,000 support. Additional losses could target the $2,950 support level, with the next key support established at $2,880.

Technical indicators provide mixed signals for potential direction. The hourly MACD demonstrates gaining momentum within the bullish zone, while the Relative Strength Index maintains positions above the 50 zone, suggesting continued positive momentum. The cryptocurrency's performance relative to Bitcoin highlights renewed interest in alternative digital assets. Ethereum's ability to establish and maintain positions above key technical levels suggests underlying strength in the asset.

Current market structure favors continued upward movement, provided the cryptocurrency maintains support above critical zones. The break above the bearish trend line represents a significant technical development that could influence near-term price action. Ethereum's surge past $3,000 and peak at $3,152 demonstrates significant market strength and technical improvement. The cryptocurrency's outperformance relative to Bitcoin, combined with key resistance breaks, suggests potential for continued upward momentum if critical support levels hold.