💎 ETH/USDT Storming our psychological level
ETH is at a very interesting point. After a local impulse, we're seeing a fight to consolidate above a crucial mark.
- Current Price: $2,998
- Local High/Low: High — $3,027; Low — $2,908 (over the last 24-48 hours).
- Support Zones: $2,940 (EMA level), $2,880 – $2,900 (strong base on the 4-hour timeframe).
- Resistance Zones: $3,030 – $3,050; next serious barrier — $3,080.
- Movement Context: Consolidation after an ascent. The price is attempting to "break through" the $3,000 level and solidify above it. We observe a confident upward trend on medium-term timeframes.
- Last 24-hour Analysis: We're seeing a gradual recovery. Trading volumes are stable but without anomalous spikes, indicating organic growth. On the 15-minute chart, there's a slight cooldown (red candles) after testing $3,027, which is natural for relieving overbought conditions.
Possible Driving Factors:
- Market: Correlation with BTC remains high. ETH shows strength, holding EMA(12/26) levels on the 1-hour chart, which is a good bullish signal.
- News: Expectations around network activity and overall positive sentiment in the crypto market towards year-end are pushing the price up.
To me, this looks like a "healthy build before a breakout." RSI at 56-60 (for different TFs) creates room for further upside without immediate risk of overheating. If the $2980 zone holds, the next target would be a confident move above $3050.
#Ethereum $ETH #Ethereum #analysis $BTC