Ethereum breaks the $3,000 mark, market sentiment bullish

In recent times, Ethereum has experienced a significant surge, breaking through key resistance levels, including $2,800, and successfully surpassing the important psychological barrier of $3,000. This upward trend indicates a high bullish sentiment in the market, with investors setting their sights on the crucial yearly high of $3,600. Technical analyst Shayan analyzes that Ethereum has rebounded near the 100-day moving average on the daily chart, demonstrating strong upward momentum and successfully reclaiming the resistance zone at $2,800. While the market is eagerly anticipating Ethereum to reach new all-time highs in 2024, there may be an expanding bearish divergence between price and the RSI indicator, suggesting the possibility of a pullback or consolidation in the short to medium term before Ethereum takes its next significant step. Currently, the price range between $2,800 and $3,600 is likely to limit Ethereum's volatility until a breakthrough occurs.