Ethereum’s breakout above $3,555 on January 3 has proven to be a classic bull trap. By January 7, ETH had turned down sharply, falling below the breakout level and even slipping under the uptrend line. This invalidates the bullish ascending triangle pattern and raises concerns about further downside. 📉
With sellers in control, the ETH/USDT pair could slide to $3,102 and potentially test the critical $3,000–$2,850 zone. Buyers are likely to defend this area aggressively, as losing it could signal deeper trouble for Ethereum. 🛡️
Even if ETH manages a recovery, sellers are expected to step in at the moving averages. For the bulls to stage a comeback, they need to push the price above the 50-day simple moving average at $3,576. If successful, Ethereum could rally toward $3,745 and possibly retest $4,094. 🚀
Right now, the market is at a tipping point. Will buyers defend the key $3,000 level and reignite bullish momentum, or will Ethereum face further pressure from the bears? The coming days could decide its fate. 🌪️
What’s your verdict—bearish collapse or bullish recovery? Let’s hear it!
#Ethereum #ETH #CryptoNews #CryptoAnalysis
