Ethereum (ETH) is encountering resistance near the $3,000 mark after a recent pullback to the head and shoulders neckline. The daily KDJ indicator has formed a golden cross, signaling potential bullish momentum, supported by bullish crossovers in the 4-hour and 12-hour moving averages. Immediate resistance is identified at the Bollinger Band midline of $3,050. Sustained trading above this level for two consecutive days could propel ETH towards $3,300. Conversely, failure to break this resistance may lead to a retest of the $2,880 Fibonacci support, with a breakdown indicating a potential return to a weaker trend, as suggested by a cautious fear and greed index.
Ethereum Faces Key Resistance Amid Bullish Indicators
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