ETH Price Breaks Above $2.7K Resistance, Bulls Eye $3K

Ethereum's price has been on the rise since breaking above the $2.7K resistance area and is now trading around $2.73K.

This move has strengthened the short-term structure, but the market is approaching another major resistance zone, which could lead to a cooling of momentum.

Looking at the daily chart, Ethereum's price showed a clear structural improvement after recovering from the $1.5K area and reclaimed the $1.9K region before breaking above the $2.1K resistance zone with substantial force.

The key moving averages are converging rapidly, which could lead to a potential bullish crossover around $2K. This suggests that the broader bearish structure has weakened considerably.