Ethereum Bulls Close In on $2,800 Breakout That Could Open Path to $3,000
- —ETH confirmed a weekly close above its 200-day MA and EMA
- —$2,800 has acted as support and resistance repeatedly over two years
- —ETH longs fell to about $2.1 billion while shorts sit near $4 billion
- —ETH trades 80% above its July bottom as the validator exit queue empties
Why it matters: A clean break of $2,800 would confirm the higher-timeframe trend reversal and could unlock a move toward $3,000-$4,000, while a rejection risks a return to the lower range.
Source: CryptoPotato