Ethereum targets $3K, SOL and DOGE face resistance, how is the market doing?

Ethereum (ETH) has been making significant strides in recent days, hinting that it’s on track to hit the coveted $3,000 mark. Looking at the latest price chart, Ethereum’s journey upward has been quite impressive. It has consistently stayed above key indicators like the 50-day and 200-day Exponential Moving Averages, indicating bullish sentiment. 

In particular, the 50-day EMA has been a sturdy support, hovering around $2,500 recently. Ethereum’s surge past $2,800 has been accompanied by strong trading volume. Signaling a genuine interest in maintaining higher prices. 

However, as Ethereum approaches the crucial $3,000 threshold, experts anticipate some resistance. Traders often take profits at such round numbers, which could temporarily slow down Ethereum’s momentum. Yet, given the current strength of the trend, any pullback might be brief.

Should Ethereum face selling pressure at $3,000, it might find support around $2,800 initially. Further down, the $2,500 zone, aligned with the 50-day EMA, could provide more significant support. On the flip side, if Ethereum manages to break through $3,000. It could extend its bullish run, opening up new potential targets. As of the latest update, Ethereum (ETH) is priced at $2,786.58, experiencing a slight decrease of 1.12% over the past day.

Meanwhile, Solana (SOL) has hit a snag in its upward trajectory. Despite being a favorite among bullish investors, it has struggled to surpass the $120 resistance level. This barrier has proven to be quite formidable, acting not just as a technical hurdle but also a psychological one. 

The inability to breach this point has led to a period of consolidation, with SOL’s price oscillating between this upper limit and lower support levels. Solana’s is currently at $110.66, experiencing a slight decrease of 0.96% over the past day, per

On the other hand, Dogecoin (DOGE) has been grappling with fierce resistance at the $0.08 level. This price point has historically acted as a strong barrier, triggering reversals in the past. Despite this, Dogecoin has shown resilience, demonstrating its ability to overcome previous resistance levels. 

With increasing trading volume, Dogecoin seems poised to break through this key resistance level. Support for Dogecoin currently stands at $0.08521, where buying interest has been observed previously. 

The latest data on crypto prices reveals a slight dip in the global market cap, which now stands at $1.95 trillion, marking a 0.15% decrease in the last 24 hours. Despite this, the total market volume has decreased significantly by 24.36%, now at $66.2 billion. 

Notably, DeFi’s volume accounts for 8.08% of the total market volume, amounting to $5.35 billion, while stablecoins dominate with a volume of $59.63 billion, representing 90.07% of the total volume. Bitcoin’s dominance has seen a marginal increase to 52.33%, indicating its continued influence amidst market fluctuations.

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