Ethereum

bullish

Resistance

<ul>
  
 <li>ETH faces significant resistance at $2,843, $2,905, and $2,927 levels.</li>   
 <li>Breaking these levels could ignite an 11% rally towards $3,236.</li>   
 <li>Failure to hold support may trigger a 4.6% decline, retesting $2,510.</li> 
</ul>   
<p><a href="https://cryptonewsland.com/eth-holder-loses-11-15m-in-liquidation/" target="_blank" rel="noreferrer noopener">Ethereum (ETH)</a> is currently navigating a crucial juncture as it faces significant resistance that could determine its next major move. After encountering resistance around $2,843, which aligns with the 50% price retracement level, ETH has pulled back slightly and is now trading at $2,737.&nbsp;</p>   
<p>This price action is happening in the shadow of two more key resistance levels; the daily resistance at $2,927 and the 50-day Exponential Moving Average (EMA) at $2,905. For ETH to sustain its upward momentum, it must decisively break through these barriers.</p>   
<h2 class="wp-block-heading" id="h-critical-resistance-levels-and-potential-upside">Critical Resistance Levels and Potential Upside</h2>   
<p>ETH is facing a tough battle as it tries to climb above $2,843. This level is crucial because it coincides with the 50-day EMA at $2,905 and a strong daily resistance at $2,927.&nbsp;</p>   
<p>Should <a href="https://ethereum.org/en/" target="_blank" rel="noreferrer noopener nofollow">Ethereum</a> manage to close above these levels, it could ignite an 11% rally. This rally would likely push ETH towards the next significant resistance at $3,236, a level it hasn’t tested in some time.&nbsp;</p>   
<p>However, this potential upside hinges on the strength of the current momentum, which remains in question. Both the Relative Strength Index (RSI) and the <a href="https://www.cmcmarkets.com/en/trading-guides/awesome-oscillator" target="_blank" rel="noreferrer noopener nofollow">Awesome Oscillator</a> (AO) on the daily chart are hovering just below their neutral levels of 50 and zero, respectively.&nbsp;</p>   
<p>These indicators are vital in confirming the strength of any bullish move. If they can climb above these neutral levels, it would signal that bullish momentum is building, making a rally more likely.</p>   
<h2 class="wp-block-heading" id="h-risks-to-the-downside">Risks to the Downside</h2>   
<p>On the flip side, if ETH fails to hold above the <a href="https://cryptonewsland.com/top-3-ethereum-alternatives-waves-zilliqa-celo/" target="_blank" rel="noreferrer noopener">ascending trendline</a>, it could signal a shift in market sentiment. A breakdown below this trendline would invalidate the bullish outlook and could trigger a 4.6% decline.&nbsp;</p>   
<p>This move would likely send Ethereum back to retest its August 12 low of $2,510, erasing much of the progress made in recent weeks. Such a scenario would be a bearish signal and could lead to further declines if buyers do not step in to support the price.</p> 
<p>The post <a href="https://cryptonewsland.com/eth-near-2927-11-surge-possible/">ETH at a Critical Juncture: Can Ethereum Surpass $2,927 to Trigger an 11% Surge?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

ETH at a Critical Juncture: Can Ethereum Surpass $2,927 to Trigger an 11% Surge?

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