ETH Soars Past $3K But Will the Sellers Come Back? (Ethereum Price Analysis)

Ethereum’s price has faced challenges breaking below the critical $3K support region, with a recent bullish rebound driven by heightened demand near this level.

Despite these efforts, ETH recently experienced a bullish rebound due to significant demand around this key threshold, reaching the upper boundary of a multi-month descending wedge and the crucial 100-day moving average at $3.2K. Higher values suggest potential market volatility and trend sustainability, while lower values indicate a cooling off in the perpetual markets.

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