Ethereum Facing Resistance at $3K

23 mar 2022

Ethereum reached our target of 3K, only to face immediate resistance and give up the 3K's. We are seeing strong resistance at $3042 from two red triangles on the KRI, but are seeking support at the next level down at $2965. The Kovach OBV is still strong however, which could suggest this is just a retracement into the overall bull trend. If we retrace further, then $2852 is the next level of support, then $2762. We must break $3042, which seems to be a Herculean task at the moment, before considering upper levels. If so, our next target is $3148.