Ethereum (ETH) Nears the $3,000 Ceiling at a Crucial Time

•  Ethereum remains above the 9-day EMA after breaking above $2,500.
• SRSI is moving sideways, indicating some market indecision.
• ETH could target $3,000 if buyers maintain upward momentum.

The Ethereum market appears to be marching closer to the $3,000 price level, even as a lot is happening internationally. From rising oil prices to President Trump’s anticipated speech, there is an array of things to watch. The token currently trades above critical levels and has breached the $2,500 mark.

ETHUSDT 24-Hour Chart

The ETHUSDT market has broken through what appears to be a rising wedge formation. The latest price candle on the chart is green and above the 9-day Exponential Moving Average (EMA) line. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are merged and moving sideways. It is worth noting that the indicator lines are still above the 50 level, having previously been around the 60 mark.

Ethereum Looks Fairly Vulnerable

Even though trading activity in the ETHUSDT price chart remains above the 9-day EMA, there are signs that suggest that upside forces are not yet decisive. The recent price candles are above the 9-day EMA curve but continue to hug the mentioned line.

Additionally, the SRSI indicator lines are merged and moving sideways, which further indicates indecision. Be that as it may, traders remain positive, seeing that upside forces have made some notable progress at this point.

ETH Still Eyes the $3,000 Mark

While the market may descend lower through the $2,700 baseline, there are still chances that buyers may push the market higher. This is because traders are watching nearby support levels at $2,700 and $2,500. As such, bulls may eventually resume pushing the market toward the $3,000 level shortly.