The post Ethereum Breaks $3,000! Investors Eye Massive $10K Surge appeared on BitcoinEthereumNews.com.

Ethereum has successfully crossed over $3000 after struggling for months. As Bitcoin surged and created another all time high at $77,135, Eth followed. Many experts have been sharing speculations that it will touch $10k this season. Let’s check the charts and see what is happening in the market. ETH Broke Consolidation Since the beginning of August, when ETH fell under $3,000 it has been moving in a confined zone only. The price was stuck between $2,320 and $2,772. At certain points, we can see on the charts that the price tried falling down but received support at $2,153 level. On November 7 after Trump victory in the US election, Bitcoin took a surge and was followed by ETH and other cryptos.  Ethereum crossed the $2,772 mark for the first time in two months on November 7 and confirmed the support above this level. It then proceeded to penetrate the next resistance at $2,897 easily. In the last 4 hours, the second largest crypto finally crossed over the $3,000 mark. At the time of writing, Ethereum is trading at $3,049. Other Market Indicators At this price point of Ethereum, the RSI is at 85.57. Technically this means the asset has been overbought and needs cooling down. To even it out, the market can do two things, either to move in a consolidation zone for a while or get a correction. However, the ADX indicator, which is used to check the power of a trend, is at 38.53. This implies, the uptrend is going to go further. How is this going to happen? There is a possibility that ETH might go into a consolidation zone for the next few hours and then start the journey. Bitcoin currently is doing the same. The Profit Levels of Ethereum Investors According to the data by…

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Filed under: News - @ November 9, 2024 7:21 am