ETH PRICE ACTION:
📈 Current Setup & Momentum
• ETH is trading near $2,768, essentially flat for the day. Daily range has been $2,752–$2,871 .
• Short‑term moving averages (e.g., EMA 7 on 1‑hour chart) are supportive of a mild bullish bias .
• RSI on shorter timeframes (15 min–1 hr) is neutral to slightly bullish, indicating upside room .
🧭 Support & Resistance Zones
• Immediate support lies around $2,700–$2,740, reinforced by EMA 7/25 and recent consolidation zones .
• First key resistance sits around $2,780–$2,800, a supply zone and recent double‑top area .
• Breaking above $2,800 could pave the way toward $3,000–$3,100 short‑term , while a failure near that level may trigger a pullback to $2,480–$2,500 .
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🔄 Chart Patterns & Technical Signals
• Bearish double‑top / Head & Shoulders formation around $2,780–800 hints at a possible reversal if validated .
• Conversely, bullish setups noted include:
• Hammer candle on 1‑hour chart after a shake‑out, suggesting short‑term rebound .
• Break and retest of an ascending triangle / bullish flag on 4‑hour, pointing toward $3,000+ .
• Institutional technical ratings remain mixed: MAs lean bullish, oscillators are neutral .
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🧭 Short‑Term Outlook
Scenario Trigger Likely Move
Bullish continuation Close above ~$2,800 with momentum Rally toward $3,000–$3,100
Pullback Rejection or failure at supply Drop to $2,480–$2,500 support
Range consolidation Price holds between $2,700–2,800 Tight sideways, awaiting catalyst
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🧩 Summary
In the next 24–72 hours, ETH is likely to:
• Test $2,780–2,800 again—watch for either a breakout or a classic rejection.
• A bullish breakout could trigger momentum toward $3,000+.
• A rejection likely brings a pullback to the $2,500 area.
