🚫 Ethereum faced a strong rejection after testing a crucial resistance zone not seen since February. This pullback has raised concerns as the last rejection from this area dragged ETH below $1,400. Will history repeat, or is a breakout to $3K still in play?
📈 In the short term, things look promising. ETH formed a golden cross on the 50/200-day MAs, suggesting bullish momentum. However, the recent rejection at the 50-week MA signals caution for the long term unless ETH breaks and closes above this zone.
🔄 April’s rebound marked ETH’s strongest 1-month surge, confirming a new bullish leg of a multi-year rising wedge. Yet last week’s failed breakout at the 50-day MA could limit upside unless strong buying pressure returns.
📊 The focus now shifts to the weekly close. A candle above both the 200-day and 50-day weekly MAs could spark the next move toward $4,000. With the MACD flashing bullish, ETH may still reclaim its uptrend — but breaking $4K is crucial for any shot at a new ATH.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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