Crypto
ETH Surges on Upgrade Momentum, Eyes $3,000 Target
Ethereum's recent upgrades have given it an edge over Bitcoin, according to trader @CryptoMichNL. The upgrades have been super bullish for ETH, positioning it to break resistance and reach the $3,000 target. Currently, the price of ETH sits at $2705.21 inside the Bollinger Bands, with upper resistance at $2724.75 and lower support at $2649.25.
The EMA50 at $2671.86 and EMA200 at $2508.49 anchor the bullish trend structure while MACD registers a golden cross at 0.68. This setup aligns with ETH price prediction models and historical data on Ethereum's relative strength versus Bitcoin during upgrades.
With the price testing upper Bollinger resistance, a healthy retracement to the 50-EMA support at $2671.86 appears probable before continuation.