Ethereum (ETH) Price Analysis: Bulls Eye $3K Following Breakout Above $2.7K Resistance

Ethereum has extended its recovery from the September lows and is now trading around $2.73K after slightly breaking above the $2.7K resistance area. The latest move has strengthened the short-term structure, although ETH is approaching another major resistance zone and momentum might be beginning to cool from its recent highs. Ethereum Price Analysis: The Daily Chart The daily chart shows a clear structural improvement following the sharp recovery from the $1.5K area. ETH subsequently reclaimed the $1.9K region and then broke above the $2.1K resistance zone with substantial force. The breakout accelerated in August, pushing ETH above both the 100-day and 200-day moving averages. These key moving averages are now converging rapidly, which could lead to a potential bullish crossover around $2K. All of these signs point to the fact that the broader bearish structure has weakened considerably. Still, a complete long-term trend reversal would require ETH to trade above the higher resistance levels. The market is currently trading around $2.73K, just above the marked $2.7K resistance zone. Holding above this area could open the way toward the next major resistance around $3.0K. That regi...