ETH Rally Targets $2800 : Manipulation or Momentum?
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Ethereum (ETH) has been rallying, with its price targeting **$2800** after breaking local resistance and surging **20%**. However, despite the positive short-term move, ETH's performance over the past five months has been weaker compared to Bitcoin (BTC), which has remained within a range.
The **$2800** zone serves as a significant liquidity area and resistance, with multiple confirmations pointing to its strength. While the price moves smoothly on the **H4 chart**, traders should be cautious of a potential false breakout followed by a correction to **0.382-0.5 Fibo**, possibly pulling ETH down to support levels around **$2600** or lower.
Conclusion :
ETH's rally faces critical resistance at **$2800**, and traders must watch for either a breakout or a correction.
Advice for Investors/Traders :
Stay alert for potential false breakouts near **$2800**. If ETH manages to hold above this level after a minor correction, a further move toward **$3K-$3100** could be in play.
