It Had Brought Rise to Ethereum: Price Can Be Moved to This Level with Technical Indicator! - Coin Bulletin

Ethereum (ETH), while giving signals of recovery from the weakest levels against Bitcoin, it is stated that the ETH price could rise to 3,000 dollars.

The price of ETH has fallen into the "oversold" zone according to various technical indicators. According to the 10x Research report, there is a possibility of ETH regaining its strength and experiencing a recovery in the short term.

Technical indicators are signaling a recovery

The report reminds that the RSI (Relative Strength Index) indicator, which measures the relative strength of Ethereum, has declined to levels around 35% and previously responded upward from similar levels. Technical analysis suggests that if this situation repeats, the ETH price could recover in the short term and rise to $3,000.

Additionally, the Pectra update scheduled for March could bring a positive breeze to the Ethereum ecosystem. According to the 10x Research report, this update could create a "moderate wave of excitement" on the ETH price.

US inflation data, which will be released by the US, can also affect price movements. 10x Research notes that if the Consumer Price Index (CPI) report, which will be announced today, meets or exceeds expectations, Ethereum price could gain even more strength.

(# Critical resistance levels

ETH price is already facing a critical resistance at the $2,650 level.** Analysts suggest that breaking this level could lead the price to the next resistance level of $3,000.

In the last month, while Ethereum has lost %20 value, it is stated that Bitcoin is under market pressure. However, current technical indicators and upcoming developments could paint a promising picture for the price of ETH.