Ethereum Breaks Above $1,800, Targets $3,000 as Momentum Expands

Ethereum (ETH) is currently trading above $1,914 after a surge in price and volume. The altcoin broke through its MVRV 0.8 Pricing Band at $1,800, indicating a shift in momentum. Historically, this threshold has marked significant price movements, with the next target being near $2,300 and then $3,000.

The resistance zone around $3,000 is substantial, with over 10 million ETH changing hands previously. However, Ethereum's technical setup suggests a strong uptrend, with expanding momentum indicated by the Moving Average Convergence Divergence (MACD) line above the signal line and both lines above zero.

The Relative Strength Index reading of 58.35 indicates a moderate bullish tone, with buyers maintaining control without pushing the market into extreme territory. The current price action is showing steady upward momentum, carrying lower immediate pullback risk than a high-RSI move.