Peter Smith
⬤ Ethereum climbed back above the important $3000 support zone after recent turbulence, stabilizing at a level that traders are watching closely. The asset is now trading near $3054, showing that buyers are stepping in to defend this key technical area that previously acted as both support and resistance.
⬤ The $3000 region represents a structural pivot point where past breakdowns led to accelerated selling. Now that ETH is holding above this zone, the next upside target sits around $3200. If momentum continues, Ethereum could push through this resistance band and potentially test higher levels. However, losing the $3000 support would flip the outlook bearish and likely trigger a deeper pullback into the $2800 or even $2600 zones.
⬤ The chart shows two possible scenarios: either a steady climb toward $3200 followed by consolidation, or a breakdown that reopens lower price levels. Volume and sentiment around the $3000 mark will determine which path plays out in the coming sessions.
⬤ Ethereum's price action matters because it often signals broader crypto market momentum. Holding above $3000 strengthens short-term bullish sentiment, while dropping below introduces significant downside risk. With ETH positioned at a major technical junction, traders are waiting for confirmation of the next directional move.
Peter Smith
