Ethereum is doing something I find more interesting than a pump: it's defending $2,200 for the second day in a row.
ETH is flat at roughly $2,244 today, which sounds boring until you remember it just fell from $2,438 on November 4 and got dragged down to $2,212 in yesterday's liquidation wave. The level that keeps catching it — $2,198 to $2,207 — is where the lower Bollinger Band, the 0.618 Fib retracement and yesterday's low all stack up. That's not a random number, it's the floor the market keeps voting for.
My read: this is a coin in no-man's land. It's sitting below the 50-day EMA at $2,303 and the 200-day at $2,419, RSI is at 40, so sellers still have the wheel — but they're not in a rush either, and Fear & Greed sitting at 25 tells me most traders are too scared to press shorts here. The boring middle is usually where the next real move gets set up.
What I'm watching: a daily close above $2,265 starts the case for a run at $2,320, and reclaiming $2,350 flips the short-term trend back up. A daily close below $2,198 kills that idea and opens $2,107, about 6% lower.
I'm leaning toward the range holding for now, but I'm not chasing anything until one of those two lines breaks — this is a wait-and-see chart, not a hero trade.
Would you buy the $2,200 floor here, or wait for $2,350 to flip first?
$ETH
Not financial advice.
ETH is flat at roughly $2,244 today, which sounds boring until you remember it just fell from $2,438 on November 4 and got dragged down to $2,212 in yesterday's liquidation wave. The level that keeps catching it — $2,198 to $2,207 — is where the lower Bollinger Band, the 0.618 Fib retracement and yesterday's low all stack up. That's not a random number, it's the floor the market keeps voting for.
My read: this is a coin in no-man's land. It's sitting below the 50-day EMA at $2,303 and the 200-day at $2,419, RSI is at 40, so sellers still have the wheel — but they're not in a rush either, and Fear & Greed sitting at 25 tells me most traders are too scared to press shorts here. The boring middle is usually where the next real move gets set up.
What I'm watching: a daily close above $2,265 starts the case for a run at $2,320, and reclaiming $2,350 flips the short-term trend back up. A daily close below $2,198 kills that idea and opens $2,107, about 6% lower.
I'm leaning toward the range holding for now, but I'm not chasing anything until one of those two lines breaks — this is a wait-and-see chart, not a hero trade.
Would you buy the $2,200 floor here, or wait for $2,350 to flip first?
$ETH
Not financial advice.
