Ethereum’s Bullish Momentum Faces Key Test at $2,800
Ethereum is on a strong upward path. It’s staying above its 200-day moving average. The $2,800 level is crucial. It’s a zone where many traders watch closely. This area combines several technical factors.The coming days will show if it breaks through or pulls back.
ETH has been climbing steadily. It’s now near a significant resistance at $2,800. this level is critically important as it’s where many technical signals meet.If it breaks through, it could signal a new high. But if it fails, a pullback might happen.
at $2,800, Ethereum faces a tough test. This price point is where several indicators converge. It includes the 0.618 Fibonacci retracement, weekly support/resistance, and recent trading highs. If it breaks above $2,800, it could lead to more gains. if it can’t, a dip to $2,000 is possible. The $2,000 mark is a strong support level. It’s a psychological barrier and a zone of past trading activity. The 200-day moving average is a key support. If ETH stays above it, the bullish trend continues.
Key levels to watch:
- Major Resistance: $2,800, where multiple technical signals align.
- Key Support: $2,000, a psychological level with historical demand.
The broader crypto market frequently enough mirrors Ethereum’s movements. A rejection at $2,800 could cause short-term weakness. However, a breakout would signal continued bullish strength. traders should monitor these levels closely.
