The assault on $3,000 in Ethereum has turned into a real heavyweight fight where every dollar counts, and although our favorite currency is elbowing its way up, the market is not making it easy at all. 🥊
Look, let me tell you how things are going because it got tense. Ethereum got a scare dropping down to $2,780, breaking barriers we didn't want to see fall. But, like a good warrior, it has already raised its head above water. Right now, we are seeing that the price has managed to jump above $2,900 and is supported by the 100-hour moving average, which is a sign that there are people buying and holding the boat. 🚢
The key to our calm breathing lies in the $2,960. That is the wall we need to break down to dream again of seeing the $3,000 directly in front of us. If we manage to break that resistance and consolidate above $3,020, the path is cleared for us to go straight to seek $3,150. Technical indicators like the MACD are already starting to show that little green color we like so much, gaining strength in the bullish zone. 📈
However, we need to be "on our toes" with the support at $2,840. If the bears regain control and push us below that level, we could end up visiting the $2,720 area again. It's not to alarm you, but in this game, patience and analysis of Fibonacci levels are what separate those who win from those who just watch. Ethereum is at a balance point where any movement with volume from institutions can define the trend of the week. 🧐
If ETH does not manage to conquer $3,000 soon, are we facing a healthy accumulation for the big leap or is it the beginning of a fatigue that will lead us to seek liquidity much lower?$ETH