ETH/USDT – Bullish Momentum into Major ResistanceEthereum continues to show bullish strength, trading above the 200-day moving average. Price action is now approaching a high-confluence resistance zone around $2,800, which could trigger the next major move.
Key Highlights:
Support: 200-day MA continues to hold with 3 daily closes above
Resistance: $2,800 zone = 0.618 Fib + Weekly SR + Value Area High
Structure: Higher highs and higher lows intact on the daily timeframe
Technical Breakdown:
ETH is currently holding strong above the 200MA, confirming bullish structure with a series of higher lows. Immediate resistance lies at the $2,800 zone, which aligns with several key levels, making it a critical decision point. A breakout above this area with strong volume could push ETH toward new local highs.
Conversely, failure to break $2,800 could result in a rotation back toward $2,000, where the last major support and psychological level sits. This would offer a strong “buy-the-dip” opportunity, especially if the trend remains intact.
Bias:
Bullish above 200MA — watching for reaction at $2,800 to confirm continuation or retracement.
