$ETH OUT OF THE WORLD AFTER RECLAIM 3000 LEVEL ? ...

Daily Chat :

On the daily timeframe, ETH is still trading below a significant descending trendline, which has been acting as dynamic resistance over the past few weeks. The asset bounced from the $2,700 support zone but hasn’t yet broken above the wedge or the 100-day and 200-day moving averages, which are converging around the $3,600 mark.

A potential bearish crossover between the moving averages is also very likely in the short-term, which could signal a deeper drop in the coming weeks. On the other hand, for buyers to regain control, the price must break above the $3,500-$3,700 supply zone. Yet, everything should begin with a breakout from the falling trendline.