$ETH is currently consolidating tightly between its moving averages, indicating a possible impending breakout.
A move above the 20-day EMA at $3,586 could propel the ETH/USDT pair towards $3,730. This level is crucial for bearish defense; breaching it might pave the way for a potential climb towards $3,977.
Conversely, a downturn below the 50-day simple moving average, currently at $3,436, would signify bearish dominance. Such a move could lead the pair to test psychological support levels at $3,000 and potentially down to $2,850.
