Ethereum is currently around 3012 dollars, slightly down 0.46% today, whipsawing in the range of 2983 to 3070. Its movement is quite interesting—initially rising to 3043 then reversing down, followed by a V-turn that brought it back, typical of Whipsaw.
Technically, level 2983 and the round number 3000 are two supports, while 3043 and 3070 are two clear resistance levels. Currently, the bullish and bearish positions are trapped, with neither gaining an advantage. If it can hold at the level of 3020, it is highly likely to try testing the resistance area at 3040-3050; if it cannot hold at 3000, it may have to return to 2980. Personally, I feel that the range of 2980 to 3000 could be considered for placing a buy position, with a target of around 3080. However, remember to control the position size; in a fluctuating market, the most feared thing is chasing high prices and selling when prices fall. $ETH
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Ethereum is currently around 3012 dollars, slightly down 0.46% today, whipsawing in the range of 2983 to 3070. Its movement is quite interesting—initially rising to 3043 then reversing down, followed by a V-turn that brought it back, typical of Whipsaw.
Technically, level 2983 and the round number 3000 are two supports, while 3043 and 3070 are two clear resistance levels. Currently, the bullish and bearish positions are trapped, with neither gaining an advantage.
If it can hold at the level of 3020, it is highly likely to try testing the resistance area at 3040-3050; if it cannot hold at 3000, it may have to return to 2980.
Personally, I feel that the range of 2980 to 3000 could be considered for placing a buy position, with a target of around 3080. However, remember to control the position size; in a fluctuating market, the most feared thing is chasing high prices and selling when prices fall.
$ETH