Ethereum experienced a surge this week, briefly breaking above a key resistance region. However, it lacked sufficient momentum, appearing to be a false breakout.
If ETH faces a more profound rejection at current levels, lower prices could follow.
Technical Analysis
By Shayan
The Daily Chart
Ethereum saw a strong push from buyers at the $3K support range, driving the price slightly above a substantial resistance region. This key region includes:
The 100-day moving average at $3.3K
The bullish flag’s upper boundary at $3.4K
Despite clearing these levels, ETH encountered significant selling pressure at $3.5K, highlighting insufficient buying power. This false breakout raises concerns about a potential rejection.
Continuing the bullish trend will be possible if the asset successfully breaks above these key thresholds and ultimately reclaims the $3.5K juncture. Otherwise, a rejection could lead to heightened volatility and a potential price drop.
The 4-Hour Chart
On the lower timeframe, E
We współpracy z: https://cryptopotato.com/ethereum-price-analysis-eth-risks-falling-below-3k-after-recent-rejection/
