Ethereum (ETH) aims for $3,000 but faces strong resistance.

Market Cap of Ethereum ETHUSD has again exceeded $300 billion, but although the EMA indicators remain bullish, the momentum is starting to weaken.

Let’s figure out what is happening in the Ethereum market ETHUSD and what to expect from the cryptocurrency price.

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Ethereum rally cools down

The DMI indicator for Ethereum shows that the ADX has decreased from 61 to 47.99, indicating a weakening trend strength. Such dynamics mean that the current trend is losing strength.

At the same time, the +DI line sharply dropped from 47.96 to 27.2, indicating that the bullish momentum has significantly weakened. The -DI line rose from 3.39 to 13.97, suggesting an increase in bearish pressure.

Although the trend is still on the side of the bulls, the gap between +DI and -DI is narrowing. If this continues, Ethereum may face a short-term correction or enter a consolidation phase. However, in the last few hours, +DI has started to rise while -DI has begun to decline: this means that ETH buyers are eager to maintain control.

RSI Index remains bullish

The RSI index for Ethereum has dropped to 63 from a high of 86 reached three days ago. Prior to this, the indicator had remained above the overbought threshold of 70 for three consecutive days.

Interestingly, despite the recent drop, the RSI bounced back from 54 just a few hours ago, indicating renewed buying interest in the short term.

The RSI dynamics show that the cryptocurrency has moved away from recent overbought levels but still retains bullish strength. This may indicate that the market is recovering after a strong rally, leaving room for new growth if buying continues.

ETH Forecast: Key Resistance

In the last week, the price of Ethereum increased by 43.5%, and the market capitalization of the altcoin has once again exceeded $300 billion. The EMA lines are confidently rising, confirming the bullish trend.

However, recently ETH encountered resistance at the level of $2,617 and was unable to overcome it.

! ETH Price AnalysisA successful breakout of this barrier will open the way to $2,855 or even $3,000 – levels last reached in early February. If the momentum is strengthened, a rise to $3,442 is also possible.

On the other hand, losing support at the level of $2,320 is fraught with a drop to $1,938. A stronger decline could lead to a decrease to $1,736.

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