Ethereum at a Crossroads: Ready to Jump or Fall Again?
- Ethereum (ETH) is on the brink, bro! The ETH price is now around $2.7K, which is a crucial point on the technical chart. If it breaks through, ETH could shoot up to $3K! đ
- But, be careful, because there is a lot of selling pressure in this area. If it fails to break through, ETH could fall back down to $2.3K.
- On the 4-hour chart, ETH is seen consolidating between the Fibonacci levels of $2.6K and $2.7K. There is a bearish divergence signal on the RSI, which means sellers are starting to get strong.
- In the futures market, there are many short positions that can be liquidated if ETH breaks through $2.7K. This could make the price go up even higher.
- But beware of bull traps! The price could go up for a while and then go back down again.
What do you think, will it break through or fall back down? Let's discuss in the comments column!
