$ETH Hovers #Around $3,000 — Bull Trap or Breakout Coming?

💸 Current Price: 3,000.44

📈 24h Change: -1.29%

📊 24h High: 3,068.33 | 📉 24h Low: 2,932.46

🔄 24h Volume: 661.3K (ETH), 1.98B (USDT)

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📊 Technical Analysis (Chart Insight)

📌 Massive Recovery: From $2,111 to $3,083 — ETH has gained over +40% in just the last 3 months (90-day gain: +86.42%).

📌 Short-Term Rejection: Price touched $3,083 and faced rejection, forming a potential lower high.

📌 Key Support: AVL Line sits at $2,973. If ETH holds above this level, bullish momentum could continue.

📌 Bearish Divergence?: Momentum slowing down on shorter timeframes — watch for confirmation.

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📰 What’s Fueling This ETH Movement?

✅ ETF Hype: Ethereum ETF approval rumors continue to float, especially after Bitcoin's ETF success.

✅ On-Chain Activity Rising: L2 networks like Arbitrum, Optimism, and Base showing higher user volumes again.

✅ ETH Locked in Staking: More than 32M ETH is currently staked — reducing circulating supply.

✅ Technical Optimism: Many traders watching $3,100–$3,300 zone as ETH’s breakout range.

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🔮 What Could Happen Next? (Not Financial Advice)

📌 If ETH breaks above $3,100 cleanly with volume, we could see a push toward $3,300–$3,500.

📌 However, if it loses $2,973 support, we may retest the $2,850–$2,800 zone.

📌 Market sentiment hinges on broader BTC strength + ETF confirmations.

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⚠️ Final Thoughts:

ETH remains in a bullish macro structure, but near-term consolidation is possible.

A confirmed breakout above $3,100 could trigger a major altseason rally.

Eyes on ETH ETF news, staking flows, and whale activity.

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