Ethereum is currently battling to hold its ground above key support levels, with buyers and sellers locked in a tense struggle. The price is hovering around the 100-day and 200-day moving averages, at approximately $3.2K and $3K respectively. A decisive break below these levels could trigger further downward movement, while a sustained hold above $3.2K could fuel a renewed bullish rally.
Ethereum is grappling with a decisive support range between the 100-day MA and the 200-day MA , a critical region serving as the buyers’ last line of defense.
Currently, Ethereum is finding temporary support within this range, with the price confined between the $3.2K level and the bullish flag’s upper boundary. A decisive breakout in either direction is likely to determine the next major trend for Ethereum.On the 4-hour chart, Ethereum consolidated near the 0.5 and 0.618 Fibonacci retracement levels before briefly breaking below this critical support zone. However, strong buying interest quickly drove the asset back above the $3.2K mark.
Conversely, a breakdown below this range could trigger liquidations, potentially driving the price toward the $2.5K support zone. For now, Ethereum is consolidating near this critical region, with a battle between buyers and sellers dictating the market’s next move.The Binance liquidation heatmap provides insights into key levels where significant liquidation events are likely.
ETHEREUM CRYPTO SUPPORT LEVELS MOVING AVERAGES BUY/SELL TENSION
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