ETH not too long ago bounced from the 200-period EMA (~$1,582), signaling potential bullish momentum. Nonetheless, except ETH breaks and closes above $2,900, this rebound dangers being a failed retest of damaged assist.
A breakout above $2,900 may flip the construction bullish and pave the best way towards $4,000, matching the triangle’s former high and a historic resistance degree close to $4,091. This might doubtless set off renewed shopping for curiosity.
Failure to interrupt above the resistance zone may result in a correction, with preliminary assist close to $2,100, and deeper draw back threat towards the 200-EMA if promoting stress returns.
The RSI has bounced to 50, indicating impartial momentum. Ethereum’s subsequent few candles might be key to confirming both a breakout or one other leg down.
