Once upon a market bound for stardom, Ethereum pranced merrily above the $3,200 mark, consolidating gains as its tail feathers brushed against the $3,250 perch.
- Ethereum began its ascent past the ponderous $3,050 and $3,120 foothills.
- Now comfortably nestled above $3,120 and the hallowed 100-hourly Simple Moving Average, it sprawls in contentment.
- The hour’s chart, sourced with the industriousness of a Kraken, reveals a contracting triangle with a resolve at $3,130.
- Should it breach the $3,240 territory, mere ballyhoo and dreams of further conquests dance tantalizingly above.
Ethereum: Another dance towards the zenith?
Fortuitously securing its footing above $2,920, Ethereum mirrored the Bitcoin dance-a curious pas de deux. Across the $3,000 and $3,050 divides, strength surged, even lofting it atop $3,150.
Yet, like so many capers before, the fickle summit of $3,240 and $3,250 remained vexingly out of reach. A peak at $3,239 was achieved, only for a slight, almost imperceptible shrug to take it back from whence it came, down below the 23.6% Fib level-a modern-day Icarus, perhaps.
As it rests above $3,120 with composure, perched above its 100-hourly SMA, our contracting triangle companion watches with cautious support at $3,130.
If it heeds the siren’s call towards the north, $3,200 shall gnarl its ascent, followed by the veritable fortress at $3,240. $3,250 looms as the elder of impediments, but a démarche above shall thrust our adventurer toward $3,320. There, beyond the $3,320 heavens, the siren call echoes for $3,450 or perhaps, the nirvana of $3,500.
A Potential About-Face for Ethereum?
If Ethereum finds itself impeded at $3,240, it may adopt an unbecoming slump. It would first stumble towards $3,120, only to possibly crash down further to its modest $3,050 domain.
An illustrious fall below said station could result in a tumble toward the $3,000 sanctuary. Pangs of despair might chase it further to $2,980 and the 50% Fib mark-hard times indeed. For all diligent market observers, $2,850 and $2,840 await ominously.
Technical Scuttlebutt:
Hourly MACD – Marches valiantly through bullish territory.
Hourly RSI – Aloft, surpassing the bureaucratic 50 level.
Major Council Treasure Chests:
Major Support: Remote outpost at $3,130
Major Resistance: Towering barrier at $3,240
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2025-12-05 06:25