A few hours to the time of writing, Ethereum flipped the $3,000 resistance for the first time since March 3. We saw several attempts at the critical level fail last week. The latest test saw the largest alt surge as high as $2, 988, following a five-day hike that saw the second largest token gain more than 17%.
The triumph over the said mark is a continuation of that uptrend as the bulls rallied the coin. It comes as no surprise as a previous analysis noted that both MACD lines are on the rise and will be leaving the bearish zone. Additionally, the vibe within the market was fluid with the bulls edging – hence hinting at a possible retest of the key resistance.
However, ETH is not free from the sub-$3,000. The current price still shows ether lingering at $3k with no push to the safe side. This is especially reflected on the Relative Strength Index (RSI) as it is stable at 62.
Source: https://coinfomania.com/ethereum-price-analysis-eth-flips-3000-but-still-at-risk-of-further-downtrend/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=ethereum-price-analysis-eth-flips-3000-but-still-at-risk-of-further-downtrend