๐๐ Ethereum's price has hit a crucial support zone, bouncing back from a bearish correction. This zone is defined by the 0.5-0.618 Fibonacci levels and the 100-day moving average.
๐ The market is showing strong demand at this point, hinting at a possible mid-term bullish rebound.
๐ Technical analysis shows a bullish continuation flag pattern. If the price breaks out from this pattern, we could see a continuation of the bullish trend.
๐ฐ The next target? The $4K resistance. But if the price drops below this support, the 200-day moving average will be the next line of defense.
๐ The Ethereum funding rate metric indicates bullish sentiment, suggesting demand near the $3.3K support level.
๐ฃ๏ธ What do you think? Will Ethereum continue its bullish trend or will it face a bearish correction? Let's discuss! #Ethereum #DeFi #bullish #cryptocurrency