Technical Analysis $ETH

Ether (ETH) has been stuck between the 20-day EMA ($2,700) and the horizontal support at $2,500 for the past few days.

The failure to break below $2,500 increases the possibility of a breakout above the 20-day EMA. If that happens, the ETH/USDT pair is expected to rise to $2,850, which is a key level to watch.

If the price declines from $2,850 and breaks below the 20-day EMA, it will signal a range formation in the near term. Buyers will have to push the price above the 50-day SMA ($2,984) to signal the start of a sustained recovery.