$3K Still a Barrier for ETH 🤚🛑🚧

21 Mar 2022

Ethereum has retraced from highs at $2965. We saw an enormous buying wave which topped out before the hard limit of 3K. The retracement could just be a technical Elliott wave corrective phase, and if so, we expect support from the lower bound of $2852. We appear to be seeing support here from several green triangles on the KRI. If support holds, anticipate ETH to range between this level and $2965, with 3K a hard upper bound for now. If it breaks, then $2762 is our next level of support.