๐ Why the $2,800โ$2,850 Zone Matters for $ETH ๐
Ethereum recently attempted a push above the $3,000 level ๐ but was quickly rejected โ, confirming that this area remains a strong resistance for the bulls ๐๐งฑ. Following the rejection, ETH has started to pull back ๐ and is now approaching a key support zone between $2,800 and $2,850 โ a range that held firm during last weekโs dip ๐ก๏ธ๐.
The failure to break above $3,000 may suggest that short-term bullish momentum is cooling โ๏ธ. However, this does not automatically signal a bearish trend ๐ปโ. Many traders believe Ethereum could perform a โliquidity sweepโ ๐งน๐ง around the $2,800 area โ briefly dipping below support to trigger stop-losses ๐ฏ before a potential reversal ๐ kicks in.
๐ Why $2,800โ$2,850 Is Important
This zone is not random โ. It has acted as a strong support level recently ๐งฑ. When price revisits such areas, it often creates attractive buying opportunities ๐๐ โ especially if broader market sentiment remains bullish ๐๐.
If Ethereum can defend this support once again ๐ก๏ธ, it could set the stage for another run at $3,000 ๐. But if this level fails โ ๏ธ, ETH may move lower toward the next major demand zone ๐. As always, keep an eye on volume and momentum indicators ๐๐, as theyโll be crucial in confirming any reversal or breakdown ๐๐ฅ.
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