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Ethereum Poised to Retest $3.5K as Bullish Sign Reappear (ETH Price Analysis)

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After experiencing a rapid downturn, Ethereum has found itself supported by a substantial zone, comprising the 100-day moving average and a critical price range between the 0.5 and 0.618 Fibonacci levels. Consequently, a bullish rebound is anticipated in the medium term.

This zone encompasses the 100-day moving average at $3050 and the significant price range between the 0.5 and 0.618 Fibonacci levels. Nonetheless, given the potential buying pressure within this crucial range, the price has entered a consolidation phase characterized by minimal volatility.

 

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