#Ethereum
Ethereum is sitting at an interesting spot right now.
$ETH managed to hold the $2,550 level and closed the week up 1.66%, which keeps the broader setup worth watching. For me, the main battle is still the $2,300–$2,800 range. What makes this zone interesting is the history behind it. The weekly chart has seen three major breakouts from this range, and each one was followed by a strong move. So if ETH can finally get a confirmed weekly break above $2,800, the $3,600–$4,500 area becomes the next major zone to watch. On the downside, $2,550 is the first support I’d keep an eye on, followed by $2,350 if the correction gets deeper. The other thing on my radar this week is the ISM data on Thursday. Historically, when ISM moves above 56, ETH and the broader altcoin market have tended to perform well.
So, right now, I’m watching two things: whether ETH can reclaim $2,800 and how the ISM data comes in.
The range is still intact. The breakout decides the next chapter.
Ethereum is sitting at an interesting spot right now.
$ETH managed to hold the $2,550 level and closed the week up 1.66%, which keeps the broader setup worth watching. For me, the main battle is still the $2,300–$2,800 range. What makes this zone interesting is the history behind it. The weekly chart has seen three major breakouts from this range, and each one was followed by a strong move. So if ETH can finally get a confirmed weekly break above $2,800, the $3,600–$4,500 area becomes the next major zone to watch. On the downside, $2,550 is the first support I’d keep an eye on, followed by $2,350 if the correction gets deeper. The other thing on my radar this week is the ISM data on Thursday. Historically, when ISM moves above 56, ETH and the broader altcoin market have tended to perform well.
So, right now, I’m watching two things: whether ETH can reclaim $2,800 and how the ISM data comes in.
The range is still intact. The breakout decides the next chapter.
