ETH Price Forecast Towards US$3,000🤫🤫🤫

Ethereum price successfully reclaimed the 50 and 100 day Exponential Moving Average (EMA). However, considering the profit-taking sentiment, ETH may decline to find support at US$3,336, which coincides with the 100-day EMA.

However, if this support is also broken, US$3,031 becomes the next support floor, which coincides with the 23.6% Fibonacci retracement from US$4,626 to US$2,539.

On the other hand, ETH has crossed the 50% Fibonacci retracement level. If Ethereum continues to rise and is able to turn the 61.8% Fibonacci level into support, this has the potential to invalidate existing bearish predictions.

The reason is because the 61.8% Fibonacci retracement level is considered a bull run support floor and is likely to re-ignite a rally. The position is located at US$3,830, which indicates that ETH has the potential to continue its increase from this level. #Ethereum #Ethereum #Web3 #Web3