Ethereum Tests $3K!! Will it Recover??

19 gen 2022

Ethereum appeared to be finding good support in the $3200's, but took a sharp dive to lower levels in the 3K handle. We saw support just above 3K however, as confirmed by a green triangle on the KRI. We are starting to see what may be a pivot back to $3100's, cracking just above $3100 at the time of this writing. We are still below $3148, the next level up, and this is bound to provide resistance. If not, then $3200 is highly likely to be a barrier. This two levels have been significant in the past, providing support from below this week. Now, support has become resistance as we have broken below these strong levels. If momentum peters out, then be cognizant that we have encroached into a vacuum zone with a lower bound at $2965. The next level below that is $2852 in the event of a proper dump.