ETH is approaching a key support to keep it above 2800.
Key support is the 50 DMA. If the 50 DMA is broken down, it could face a correction similar to BTC and there is a chance of <$2000 ETH.
So far we have a hidden bullish divergence as another form of confluence here.
Crypto markets are very sour right now so this move is still a 50/50 but if ETH does bounces off this moving average there is a good chance that a new ATH will be formed, looking around 4500-5000 in the next 30 days. (Only if the given confluences are to be respected)
Key support is the 50 DMA. If the 50 DMA is broken down, it could face a correction similar to BTC and there is a chance of <$2000 ETH.
So far we have a hidden bullish divergence as another form of confluence here.
Crypto markets are very sour right now so this move is still a 50/50 but if ETH does bounces off this moving average there is a good chance that a new ATH will be formed, looking around 4500-5000 in the next 30 days. (Only if the given confluences are to be respected)