๐ฅ Ethereum($ETH ) Heating Up โ Can It Handle the Pressure Near $3K?
Ethereum is turning up the heat after bouncing off the $2,320 level! ๐ Bulls are back in charge, and ETH is now aiming for a potential breakout above the critical $2,650 resistance zone โก.
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๐ Key Highlights:
โ ETH climbed above $2,450 and $2,500 โ bullish momentum building!
๐ Trading above $2,500 and the 100-hour SMA ๐ง
โ๏ธ Broke bearish trend line resistance at $2,530 โ trend reversal signal!
๐ฏ Major target ahead: $2,650 resistance zone
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๐ ETH Price Action:
After a dip below $2,450 (unlike Bitcoin) ๐ฅ, Ethereum found strong support at $2,300. Buyers stepped in hard at $2,308 and launched a rally past $2,450 and $2,500. ETH even cleared the 61.8% Fib retracement level of the $2,583 to $2,308 drop ๐.
Itโs now cruising above $2,540 ๐, supported by the 100-hour SMA and pushing above the 76.4% Fib level ๐.
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๐ Upside Targets:
Minor resistance: $2,580 โ๏ธ
Key levels: $2,600 and $2,650 ๐
Break above $2,650? Look out for $2,720, then $2,780 and $2,840 ๐๐
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โ ๏ธ What If ETH Drops Again?
If bulls can't crack $2,650:
First support: $2,520 ๐ก๏ธ
Major support: $2,450 ๐งฑ
Break below $2,450? ETH could head to $2,420, then $2,320 โ and possibly even $2,250 โ ๏ธ๐
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๐ Technical Indicators:
๐ก MACD: Bullish momentum growing
๐ RSI: Above 50 โ buyers in control
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๐งญ Support Levels: $2,450, $2,320, $2,250
๐งฑ Resistance Levels: $2,580, $2,650, $2,720
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๐ง Conclusion:
Ethereum is heating up with bullish vibes โ but the real test lies at $2,650 ๐ฅ. A breakout could spark a fresh rally, but failure could mean a drop back to key support zones.
Will ETH explode past resistance or face the heat?
Drop your thoughts & keep your eyes on the charts!
