The psychological barrier of $3,000 has just been broken down and the Ethereum ecosystem is in a moment of pure tension that has us all keeping an eye on the chart. 📉 This is not just any movement; we are seeing Ether consolidating losses after failing to hold above $3,050, closely following in Bitcoin's footsteps.
Right now, the outlook is as follows: the price hit a low of $2,875 and is trying to breathe, but the selling pressure is real. 😰 We are trading below the simple moving average of 100 hours, which in simple terms means that the short-term trend remains uphill. For us to regain our smile, Ethereum needs to break strongly through the $3,025 zone and, above all, jump over the wall of $3,110 where there is a well-defined bearish trend line. 🧗♂️
If we manage to reconquer those levels, the path clears to seek again the $3,200 or even $3,250. 🚀 But be careful, the support zone at $2,900 is vital; if the price slips from there, we could visit $2,800 or even $2,765 in the blink of an eye. The MACD is losing strength in negative territory and the RSI is there, in the middle of the table, waiting to see who wins the fight between bulls and bears. 🐻vs🐂
It is a moment of great caution. It's not just a price drop, it's a test of fire for investors' confidence at a level that defines whether we remain in recovery mode or if we need to tighten our belts for a longer winter. ❄️
Do you think this drop below $3,000 is the perfect opportunity to accumulate more or is it a sign that the market needs a much deeper correction before taking off again?$ETH
