Ethereum's direction currently
Overall direction:
My correction is still leaning bearish on the visible timeframe, but there is a short-term bounce attempt.
The price has bounced from a low of ≈ 2775, which is a clear support level.
Currently, the price is around 2975 and is trying to regain control.
🔹 Moving averages
MA7 and MA25: the price has started to break through them → short-term positive signal.
MA99 (~3085): Very strong resistance, breaking it and maintaining above means a trend reversal to bullish.
As long as the price is below MA99, the medium-term trend is still weak.
🔹 RSI Indicator
RSI ≈ 63
✔ Good purchasing power
❗ Close to saturation → possible cooldown or slight correction before continuing to rise.
🔹 Important levels
Support:
2900 – 2775
Resistance:
3030
3085
3200
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🔥 Is Ethereum the market mover?
Yes, and strongly 👇
Ethereum is the second leader after Bitcoin.
When:
ETH rises steadily → altcoins are moving strongly.
ETH is dropping → altcoins are severely affected even if BTC is stable.
📌 Often:
BTC determines the overall direction
ETH ignites altcoin movement
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🧭 Summary
Ethereum is now in a decision phase.
Breaking 3085 firmly = a strong upward movement for the entire market.
Strong upward movement for the entire market.
Rejection from this area = fluctuation or new decline.
