ETH Struggles at $2,850: 50-Week MA Poses Strong Resistance

ETH is aiming for the critical milestone of $2,850, but it is encountering resistance around the 50-week simple moving average

During the previous twenty-four hours, Ethereum futures liquidations totaled $105.07 million, according to statistics provided by Coinglass. On the other hand, the overall amount of long liquidations is $74.09 million, while the total amount of short liquidations is $30.98 million.

The 50-week Simple Moving Average (SMA) was just below the $2,850 resistance level when ETH experienced a rejection. This occurred after the cryptocurrency had risen to $2,750. It is possible that Ethereum may find support close to the $2,530 key level after the rejection. This support is bolstered by the convergence of the 100-week and 200-week simple moving averages.

With a strong advance over the 50-week simple moving average and the $2,850 resistance level, Ethereum has the potential to recapture the psychological level of $3,000 and test the $3,250 resistance level. This would be a positive development.

At the same time as the Stochastic Oscillator (Stoch) is testing the overbought zone, the Relative Strength Index (RSI) is slightly over its neutral level. In order to strengthen the bullish momentum and push ETH beyond $2,850, a weekly candlestick close that is higher than their neutral levels is very likely.

When a weekly candlestick closes below $2,110, the thesis will be rendered invalid, and the price of ETH may possibly drop below $1,688.

#ETH #TrumpTariffs #BinanceAlphaPoints #TradeStories #StrategyTrade $ETH