Ethereum: Is $3k Or $2k The Cost Of This Dip?

On Wednesday, the price of Ethereum extended its previous session gains. ETH is still trading below the psychological $2,880 level. Still, once a decisive close above the bearish sloping line stretching from the highs of $4,759 is achieved, Ethereum’s price has room to rise. Over the last four months, the king alt has been on a sharp fall from its ATH. At the $3,100-mark Point of Control, there was a battle between buyers and sellers. Ethereum Below Psychological Barrier ETH wants to test the $2,862-level before entering a likely low volatility phase on its Bollinger bands, assuming the altcoin follows its past trends (BB). Before the alt continues to notch higher bottoms, near-term retracements could find support at the $2,500 level. The price of Ethereum is currently moving higher, with large gains, but there has been a slight retreat from higher levels. To close over the psychological $2,800 level, further buying pressure is essential. Related Reading | Yearn Finance (YFI) Down 13% Following Andre Conje’s Exit In the short term, the upward momentum is projected to continue as long as buying pressure is continuous. As a result, the $2,830 level could be the first upside obstacle from current levels. The price of ETH must close above this level on a daily basis, with above-average volumes.   ETH/USD trades below $3k. Source: TradingView The 50-day EMA (Exponential Moving Average) at $2,880 will provide resista...