Ethereum / TetherUSUpdated ETHUSD Eyes Bullish Continuation Amid Support Test
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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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.