ETHUSD Eyes Bullish Continuation Amid Support Test
Updated
Ethereum (ETH) is currently hovering around a key support zone at $3,028 after a recent pullback from higher levels. The current setup hints at a potential bullish continuation if this support holds, with buyers eyeing a breakout towards $3,442 and possibly beyond.
The price action shows a series of higher lows, supported by moving averages beneath the current price level. This alignment often signals underlying bullish momentum. If ETH can maintain support here and manage a bounce, we may see renewed buying interest pushing it towards the next resistance level.
This key support level is pivotal; a successful hold could signal the resumption of the uptrend. Traders are watching for confirmation of strength around $3,028 as a break below could shift the outlook. However, a sustained move above resistance could open the door for ETH to target even higher levels.
The price action shows a series of higher lows, supported by moving averages beneath the current price level. This alignment often signals underlying bullish momentum. If ETH can maintain support here and manage a bounce, we may see renewed buying interest pushing it towards the next resistance level.
This key support level is pivotal; a successful hold could signal the resumption of the uptrend. Traders are watching for confirmation of strength around $3,028 as a break below could shift the outlook. However, a sustained move above resistance could open the door for ETH to target even higher levels.
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