Ethereum price repels $3,000

After a rejection from the $3,000 psychological level, Ethereum price is trading within the ascending parallel channel. However, it risks an extended fall following the execution of a selling signal on the RSI. With the weekend setting in, low trading volumes and the resultant volatility could see ETH retest the $2,874 support. In a dire case, the slump could send the Proof-of-Stake (PoS) token to the $2,770 support confluence between the horizontal line and the midline of the channel

However, with the bulls still maintaining a presence in the BTC market, seen with the large volumes of green histogram bars of the AO, Ethereum price could overcome the $3,000 milestone, or in a highly bullish case, clear the range high of $3,036 to tag the $3,200 milestone.

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