Ethereum Bulls Eye $3K as Price Breaks Above $2.7K Resistance

Ethereum (ETH) has continued its recovery from the September lows and is now trading at around $2,737.07 after a slight breakout above the $2.7K resistance area.

The recent move has strengthened the short-term structure of ETH, but it's approaching another major resistance zone and momentum may be cooling off from its recent highs.

According to the daily chart, Ethereum's price has shown significant improvement following the sharp recovery from the $1.5K area.

ETH reclaimed the $1.9K region and broke above the $2.1K resistance zone with substantial force in August.