๐ ETH/USDT Technical Outlook (Daily Timeframe)
Ethereum is currently testing the 200-day Moving Average (MA200) as a key support level, a critical zone that could dictate the next major move. Price action is showing resilience at this level, with buyers defending the zone aggressively.
Notably, the 21-day, 50-day, and 100-day moving averages are all sloping upwards and converging beneath the price โ a sign of strengthening bullish momentum. These shorter-term MAs are on the verge of crossing above the MA200, which could potentially trigger a bullish crossover and reinforce the uptrend.
If the MA200 holds as support and we see a decisive break above it with increasing volume, it could confirm a continuation of the bullish structure, possibly targeting higher resistance zones in the coming sessions. However, a breakdown below MA200 may invalidate this bullish setup and open room for deeper correction.
Key Levels to Watch:
โข Support: MA200 zone
โข Resistance: Previous swing highs and psychological levels near $4,000
Stay sharp and manage risk accordingly.
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