Ethereum continues his impressive bullish run above the 200-day moving average. A strong $2,800 technical confluence could potentially determine whether deeper pullbacks or breakouts will emerge over the next few days.
Ethereum (ETH) has maintained its upward momentum despite the extended rallies in recent weeks. Price Action is currently approaching a critical resistance area at $2,800, but strong support from the 200-day moving average continues to be retained. The market is currently at the key point that you must decide to continue to a new high or a healthy pullback that may offer fresh purchase opportunities.
Important technical points
- Major resistance: $2,800 Confluence Zone (0.618 FIB, weekly SR, value area high)
- key support: The $2,000 psychological level is consistent with historical demand
- Trend Signals: Keep MA for over 200 days with daily strong candle check
Ethusdt(1d) Chart, Source: TradingView
The Ethereum structure remains bullish on a higher time frame, especially as prices consolidate above the 200-day moving average. This level has now been closed for three consecutive times, signaling buyers’ interest and market strength. Prices outweigh this dynamic support, but bullish continuation is now a more likely scenario.
However, there is a $2,800 resistance area marked by some technical indicators. This is a 0.618 Fibonacci retracement from previous major moves, major daily support/resistance levels, and value area from recent trading scope activities. These overlapping levels suggest that this zone may act as a temporary cap unless it breaks with conviction and volume.
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If Ethereum is facing denial at this level, the next major support will be on $2,000, the psychological and structural zone in which pre-accumulation occurred. Pullback to this level is likely to create a wider range between $2,000 and $2,800, forming an integrated channel for Ethereum to re-accumulate before a massive breakout.
The wider altcoin market often follows Ethereum’s lead, so denial here can cause short-term weaknesses across the board. Conversely, the success of a breakout of over $2,800 is a strong signal of continued bullish domination across the crypto market.
What to expect from future price action
As long as Ethereum continues to surpass its 200-day moving average, the bullish momentum will remain. Nowadays, all eyes are at $2,800 resistance, and how prices respond at this level defines a short-term outlook. Refusals could open up a shopping opportunity for nearly $2,000, but breakouts could outperform the next leg on both ETH and Altcoins.
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