Key Insights:
- Ethereum trades above $3,000 as markets wait for a daily close confirmation to sustain gains.
- Failure to hold $3,000 could send ETH back toward $2,900 and lower support zones.
- ETH/BTC remains above 200-day EMA, signaling stability but lacking strong upward momentum.
Ethereum (ETH) has moved above the $3,000 mark, a level it has not held steadily in recent weeks. As the time of writing, ETH was priced at $3,045.18. It is up 2.2% in the last 24 hours and 2.8% over the past week.
The $3,000 level has acted as a strong price zone in the past. When ETH failed to stay above it previously, price movement became flat. A daily close above $3,000 may now decide whether Ethereum can continue to rise or return to a sideways pattern.
Resistance Levels to Watch
If Ethereum holds above $3,000, the next price zones to watch are between $3,165 and $3,250. Beyond that, another zone sits around $3,320 to $3,480. These levels have stopped rallies before. Breaking through them may open the way to prices near $3,700 to $3,800.
Traders are watching these areas closely. The ability to move past them may depend on strong trading volume. If price slows or rejects in these zones, upward momentum may fade.
What Happens If It Drops
If ETH falls below $3,000 again, it could return to the lower support range. Price under $2,935 could lead to tests of $2,850 and $2,775. Further weakness might take it down toward $2,615 or $2,350.
Market watchers remain cautious. “If ETH dumps below the $3,000 level again, the sideways chop will continue,” Ted noted. Traders are holding back until there is a clear direction.
Source: Ted/XETH/BTC Holding Ground
In the ETH/BTC pair, Ethereum is trading just above key support near 0.0333. It is also above the 200-day EMA. This support zone has been held several times in recent months.
The pair broke a long-term downward trendline in December and has since stayed above it. If it remains stable, ETH/BTC may push toward 0.036 or 0.038. A drop under 0.0333, however, could bring prices down to 0.0326 or lower. The pair’s current range is stable but fragile.
Ethereum was sitting at an important level. Traders are watching to see if the price stays above $3,000 or slips back below. The next few daily closes may offer more direction.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/eth-breaks-3kwill-it-hold-or-crash-back/
