đ Ethereum's taken a hit, folks! Sellers have been busy, pushing the price below the 100-day MA and heading towards the 200-day MA. But don't panic! đ
âą Ethereum's found a comfy spot around the $3K support region.
âą We might see a bit of consolidation before the next big move.
âą If we see a pullback to the 200-day MA, a bearish trend could be on the cards.
The 4-hour chart shows a bit of a tumble after breaching the $3.3K support. But, the $3K region has held strong before, and it might just do it again.
âą RSI's dropped below 30, hinting at a short-term market correction.
âą We're likely to see some consolidation, with the 0.5 - 0.618 Fibonacci levels as the main target.
So, what's the sentiment? Well, the $3K zone is crucial. If sellers push the price below this, we could see a big long-squeeze. Keep an eye on the $3K zone, folks!
What do you think? Is Ethereum going to hold strong at $3K or are we in for a wild ride? đą Let us know in the comments! #Ethereum #CryptoNews