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Ethereum Eyes $3,000 After Testing Critical Wyckoff Resistance Zone
- Ethereum (ETH) is consolidating tightly between $2,600 and $2,700, indicating a potential breakout.
- The Wyckoff accumulation pattern suggests ETH is testing critical 'Creek' resistance after passing key phases.
- A close above $2,700–$2,800 could propel ETH to $3,000, with $2,000 support crucial for bullish momentum.
- Ethereum is expected to make a significant price move as analysts observe mounting tension.
- Current price action shows Ethereum in a narrow range signifying an imminent breakout.
- Strong absorption of price wicks at both ends of recent candles indicates impending volatility.
- Breakout direction will likely be determined by higher timeframe candle closures.
- Merlijn The Trader uses Wyckoff accumulation theory, highlighting Ethereum's passage through key phases.
- Ethereum approaching Wyckoff's 'Creek' resistance signals a potential bullish journey.
- A convincing close above $2,700–$2,800 could usher in a new bullish phase, targeting $3,000 and beyond.
- Maintaining support at $2,000 is crucial for Ethereum's upward trajectory.
- Traders await confirmation of breakout to assess Ethereum's next significant move.
- Ethereum's technical position is at a critical juncture, with upcoming decisions likely shaping prices for weeks or months.
- Analysts emphasize the importance of market sentiment and $2,000 support in Ethereum's price trajectory.
- The impending breakout could lead to either a bullish surge or a bearish breakdown for Ethereum.
- Traders are advised to watch Ethereum closely for clarity on its future price direction.
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