💥💥💥 Technical analysis $ETH 💰💰💰

The bulls have pushed Ether (ETH) above the 20-day EMA at 3,106 USD on Monday, but the long candle wick indicates that selling pressure is emerging at higher price levels.

The bears will attempt to pull the price of Ether below the 2,907 USD mark. If successful, the ETH/USDT pair could drop to the support zone of 2,716–2,623 USD.

This negative outlook will soon be invalidated if the price turns around and breaks above the previous resistance level at 3,350 USD. This suggests that the pair may have formed a bottom in the short term. At that point, the price could rise to 3,658 USD and higher to 3,918 USD.

ETHUSDT

Perp

2,923.07

+3.12%