Ethereum continues to show bullish strength, trading above the 200-day moving average. Price action is now approaching a high-confluence resistance zone around $2,800, which could trigger the next major move.
Key Highlights:
Support: 200-day MA continues to hold with 3 daily closes above
Resistance: $2,800 zone = 0.618 Fib + Weekly SR + Value Area High
Structure: Higher highs and higher lows intact on the daily timeframe
Technical Breakdown:
ETH is currently holding strong above the 200MA, confirming bullish structure with a series of higher lows. Immediate resistance lies at the $2,800 zone, which aligns with several key levels, making it a critical decision point. A breakout above this area with strong volume could push ETH toward new local highs.
Conversely, failure to break $2,800 could result in a rotation back toward $2,000, where the last major support and psychological level sits. This would offer a strong “buy-the-dip” opportunity, especially if the trend remains intact.
Bias:
Bullish above 200MA — watching for reaction at $2,800 to confirm continuation or retracement.
Key Highlights:
Support: 200-day MA continues to hold with 3 daily closes above
Resistance: $2,800 zone = 0.618 Fib + Weekly SR + Value Area High
Structure: Higher highs and higher lows intact on the daily timeframe
Technical Breakdown:
ETH is currently holding strong above the 200MA, confirming bullish structure with a series of higher lows. Immediate resistance lies at the $2,800 zone, which aligns with several key levels, making it a critical decision point. A breakout above this area with strong volume could push ETH toward new local highs.
Conversely, failure to break $2,800 could result in a rotation back toward $2,000, where the last major support and psychological level sits. This would offer a strong “buy-the-dip” opportunity, especially if the trend remains intact.
Bias:
Bullish above 200MA — watching for reaction at $2,800 to confirm continuation or retracement.
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Join the Free Trading Group
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Trade with perks & support the community!
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— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.