Ethereum price breaks through bullish resistance level

Ethereum is sending strong signals after breaking through an important technical level. The price rose above the MVRV 0.8 price band at $1.800, a move that historically indicated a significant shift in momentum. With a current level of $1.900 and a gain of 2.2% in 24 hours, the largest altcoin shows clear signs of recovery.

Ethereum is available at OKX and Bybit.

In brief:

• Ethereum breaks through MVRV 0.8 band and forms golden cross signal
• Technical indicators point to possible rally toward $3.000
• On-chain data shows major resistance zone at $3.000 with a million ETH

Golden cross sends strong signals

In addition to the breakout above $1.800, Ethereum has also formed an MVRV Momentum golden cross. This technical pattern is known as a strong bullish indicator.

According to the data, previous signals of this type were followed by rallies of 50%, 166%, 74% and 113%. These historical patterns indicate that the current golden cross could be significant for the future of the price.

$3.000 as the next target

Analysts are focusing on $3.000 as a key level for further price development. This price point serves as a major resistance zone based on on-chain transaction data.

The data shows that more than 10 million ETH changed hands around this level. This large volume of historical transactions makes $3.000 an interesting zone to watch for traders and investors.

Momentum remains important

Maintaining the current momentum is crucial for Ethereum. Bulls must defend $1.800 to make further gains toward $3.000 possible. The coming weeks will therefore be decisive for the direction of the altcoin.