Ethereum Surges 10% to $2,795, Eyes $3,000

Generated by AI AgentCoin World
Wednesday, Jul 9, 2025 11:22 pm ET1min read
ETH
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Ethereum's price has surged past the $2,720 mark, marking a significant increase from its previous levels. This upward trend has positioned

Ethereum
to potentially reach new heights, with analysts suggesting that the $3,000 threshold is within reach. The cryptocurrency has shown strong momentum, surpassing the $2,650 level and establishing a firm footing above $2,720. This movement has been supported by a key parabolic curve forming at $2,750 on the hourly chart, indicating a bullish trend.

The price of Ethereum has not only broken through the $2,720 resistance but has also tested the $2,800 level, reaching a high of $2,795 before consolidating its gains. The cryptocurrency is currently trading above the 23.6% Fib retracement level of the upward move from the $2,516 swing low to the $2,795 high, suggesting a stable upward trajectory. The next resistance levels are identified at $2,800, $2,840, and $2,880, with a clear move above $2,880 potentially sending the price toward the $2,910 resistance. An upside break above $2,910 could further propel Ethereum toward the $2,980 resistance zone or even $3,000 in the near term.

However, if Ethereum fails to clear the $2,800 resistance, it could face a decline. Initial support on the downside is near the $2,750 level, with the first major support sitting at $2,720. A clear move below $2,720 could push the price toward the $2,650 support or the 50% Fib retracement level of the upward move from the $2,516 swing low to the $2,795 high. Further losses might send the price toward the $2,550 support level, with the next key support at $2,500.

Technical indicators support the bullish outlook for Ethereum. The MACD for ETH/USD is gaining momentum in the bullish zone, while the RSI for ETH/USD is now above the 50 zone. These indicators suggest that Ethereum is poised for further gains, with the major support level at $2,720 and the major resistance level at $2,800. The overall sentiment remains positive, with Ethereum bulls eyeing the $3,000 mark as the next significant milestone.