Ethereum is currently facing a critical resistance region that includes the 200-day moving average and the descending wedge's lower boundary. If there is a rejection at this level, it could lead to a decline towards the $2.5K threshold. On the other hand, if Ethereum breaks above this resistance, it could trigger a short-squeeze and drive the price towards the $3K level. The futures market is indicating reduced activity and a lack of momentum for a strong bullish move, which could result in further declines if selling pressure persists around the $3K resistance. The short-term trend for Ethereum remains uncertain, with the next significant move dependent on the outcome of price action in the coming days.



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