ETHEREUM Key Levels
$ETH : Resistance and Support Levels, Where Are You Now?? đđđ
The Ethereum price is currently undergoing a correction that started in early December. The price seems to be moving down towards the key support range between $2,400 and $2,840. Although this movement may occur in several stages, there is a possibility that the correction will end earlier than expected. At the time of writing, Ethereum is down more than one percent and is trading below the $3,300 level.
Key Resistance and Support Levels
The trend is bearish as long as Ethereum remains below the resistance zone between $3,370 and $3,613. A break below $3,170, the low on Thursday, will likely signal further downside. If Ethereum manages to push higher within the resistance area, it may indicate that a larger pullback is underway.
Alternative Scenario: Potential Upside Breakout
There is an alternative scenario to consider, where the current price action could form a triangle pattern, which could lead to an upside breakout. While unlikely, it is worth keeping an eye on as it could have positive implications for Ethereum.
Looking Ahead: Possible Path to New Highs
Despite the short-term downtrend, the overall uptrend remains intact. If Ethereum finds support soon and begins to stabilize, this could pave the way for a stronger rally towards new all-time highs. Watch for signs of a bottom, as this could signal the next leg up.
Prepare for a
$ETH Leap Higher. .
Always Do Your Own Research. . .
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