Ethereum Price Analysis: Is ETH in Danger of Falling Below $3K Soon?

Crypto Blog

Ethereum’s price action indicates a temporary consolidation phase following its rejection near the critical $3.5K resistance zone.

Staying above the 100-day and 200-day moving averages further strengthens the bullish outlook. However, the price faced rejection near the $3.5K resistance region, resulting in a corrective pullback toward the 200-day MA of around $3K. This range aligns with the flag’s broken trendline, suggesting that the current pullback is forming as a healthy correction.

With Ethereum experiencing a retracement phase, futures market sentiment offers valuable insights into potential short-term fluctuations.

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