Can Ethereum Hold $3K??

12 Apr 2022

Ethereum has broken down briefly giving up the 3K handle. We have been noting weakness in the crypto markets for some time now, and anticipated support at 3K, which we saw. We did break into the upper 2K's, finding support at $2965 where support was confirmed by several green triangles on the KRI. However, we did not see much of a buyback which suggests that buyers are still not seeing the high 2K's as enticing. We are seeing strong support from $2965, but if we break lower, $2852 is the next target. We should see resistance at or around $3200 if we are able to pivot from current levels.