Ethereum's price surged past $3,000, reaching $3,039 on Monday, marking a 2% increase over the past 24 hours. This rise was accompanied by a significant boost in trading volume, which jumped 132% to $18.3 billion. The upward movement comes amid speculation surrounding the Bank of Japan's decision to raise interest rates to 0.75%, the highest level in three decades, with potential for further hikes. Technical indicators suggest a bullish trend for Ethereum, with the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) pointing towards a reversal near the 50-day Simple Moving Average (SMA) at $3,041. The cryptocurrency is currently navigating between a support level of $2,650 and a resistance level of $3,400. A sustained close above $3,000 could target $3,299, while a decline below $2,800 might lead to a drop towards $2,400.
Ethereum Surpasses $3,000 Amid Bank of Japan Rate Hike Speculation
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