🔸 $ETH is making an effort to regain upward momentum as it trades above the level of $2,950 and is above the 100-hour SMA line. After breaking the downward trendline at $2,920, the current survival target is to break through the strong resistance at $3,050. If this resistance is successfully broken, the path up to $3,150 and further to $3,220 will be open for everyone.
🔸 However, the MACD indicator is showing that the upward momentum is weakening. If it fails before the level of $3,050, $ETH there is a risk of reversing to seek support at $2,915. Breaking this level would indicate a move towards $2,880 or deeper to the area of $2,800.
Is this bet Long or Short, guys?
This article is for reference only; it is not investment advice. Please read carefully and consider thoroughly before making a decision.