Ethereum Hits $3K as RSI Divergence Flags Possible Reversal
The post Ethereum Hits $3K as RSI Divergence Flags Possible Reversal appeared on BitcoinEthereumNews.com.
TLDR: Ethereum hits $3K, up 17% in a week, but faces major resistance. RSI divergence flags weakening momentum despite bullish price action. Key support zones lie between $2,700 and $2,450 if rejection occurs. Break above $3K with volume could open path toward $3,500–$4,000. Ethereum has briefly surged past the $3,000 mark today, showing strong momentum in the crypto market’s latest recovery phase. This milestone reflects an 8% gain in the last 24 hours and nearly 17% growth over the past week. However, analysts are divided on what comes next as Ethereum faces a key resistance zone. Technical indicators suggest slowing momentum, raising questions about the strength of the rally. While price action is bullish, underlying signals point to a possible short-term rejection. Ethereum Resistance at $3,000 Raises Pullback Concerns Veteran trader Matthew Dixon noted Ethereum is testing overhead resistance between $2,880 and $3,000. He pointed to a completed ABC correction that started around the Pectra upgrade low near $1,800, followed by a 5-wave impulsive move. #ETH is trading at $2,9913, testing a critical overhead resistance zone around $2,880–3,000 (marked by the red dashed line).The last impulsive move began at the PECTRA UPGRADE low near ~$1,800, completing what appears to be an extended wave 3 or C structure.2. Bearish RSI… pic.twitter.com/SN1wND01Es — Matthew Dixon – Veteran Financial Trader (@mdtrade) July 11, 2025 According to Dixon, Ethereum’s price is forming higher highs while the RSI displays lower highs, a pattern known as bearish divergence. This often signals weakening momentum. If the structure holds, Ethereum may be nearing the end of its rally, potentially completing wave (5) or a corrective wave X. Dixon added that if the rejection materializes, the first support range lies between $2,650 and $2,700, matching the prior wave 4 zone. A further drop could test $2,450, a base formed…
Filed under: News - @ July 11, 2025 7:21 am