Ethereum is trading in the green at the time of writing at 2,836.13 level and it seems poised to climb towards the 3,000 psychological level. The price has invalidated a new strong drop, so further growth is favored right now.
The price continues to move sideways but I really hope that we'll have an opportunity soon. The corrective phase seems over, so ETH/USD could try to develop a new leg higher after the current range.
ETH/USD Upside Breakout!ETH/USD has managed again to come back above the immediate downtrend line. Now is pressuring the 50% Fibonacci line which represents strong static resistance. Closing and stabilizing above this obstacle may signal further growth at least until the 3,000 psychological level.
A valid breakout above 3,000 psychological level could really announce a broader growth ahead. I believe that the bullish scenario could be invalidated only if the price of ETH/USD drops and stabilizes below the pivot point (2,626.60)
Ethereum Outlook!You can go long on ETH/USD if the price closes a bullish candle above 2,890.60 high. Also, a valid breakout above 3,000 could really announce a larger growth in the upcoming weeks.