The barrier of $3,000 has become a concrete wall for Ethereum and, honestly, the blow hurt. 🥊 I won't lie to you: those of us who expected ETH to break strongly upwards just found ourselves with a bucket of cold water. Vitalik's coin not only couldn't maintain the pace, but it slipped below key supports, and now we are seeing how sellers are taking the wheel. 📉
To understand the gravity of the situation, Ethereum broke a rising channel that it had been respecting very well. Losing $2,980 and staying below the 100-hour moving average is like trying to climb a mountain with a backpack full of stones; the momentum simply isn't there. 🏔️ Right now, the price is flirting with dangerous zones. If we can't defend $2,880, which is where our "shield" based on Fibonacci levels (an indicator we use to see where the price tends to bounce) is located, the drop could drag us down to $2,800 or even lower, looking for $2,775.
What needs to happen for us to breathe easy? 😮💨 We need to recover $3,000 with volume, with desire. If we manage to jump that fence, the next challenge is $3,050, and from there, maybe dream of $3,200. But for now, technical indicators like the MACD are screaming that the strength is going down and the RSI (which measures the speed of price movements) has already fallen from the neutral zone, confirming that the current sentiment is one of extreme caution.
We are at a point where patience is our best tool. The market is reminding us that in the world of crypto, the landscape can change in a couple of hours. The big question that remains in the air is: Are we facing a simple offer to buy cheaper or is it the beginning of a short winter that will force us to recalculate our entire strategy to close the year? 🤔$ETH
