ETH to $3000? Traders in SHOCK! 😱

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Ah, Ethereum, that fickle mistress of the digital age. She hath displayed, of late, a certain… vigor, surpassing even the stoic Bitcoin in her spirited dance. The price, like a hopeful suitor, surged towards those crucial resistance levels, unseen since the bygone days of February. Alas, her advances were rebuffed, resulting in a pullback as predictable as a landowner’s disdain for peasants. One recalls, with a melancholic sigh, similar rejections that dragged the poor levels towards the depths below $1400. Thus, the question arises, weighty as a samovar: will the ETH price, like a phoenix from the ashes (or, perhaps more accurately, from the blockchain), revive a strong upswing to that mythical $3000? One can only ponder, and perhaps sip some tea. ☕

Regardless of the grand, sweeping drama of long-term price action, the ETH price, in the short run, appears poised for a strong upswing. The 50/200-day MAs, those cryptic oracles of the market, have undergone a golden cross, a sign as promising as a clear day in St. Petersburg. However, in the long term, like a landowner burdened by debt, the price is expected to face some upward pressure, as the token hath dropped below a crucial resistance zone. Previously, a strong buying volume, like a peasant revolt, followed this rejection, which pushed the price to $4000. One wonders if such fervor can be rekindled. 🤔

The ETH price, bless its volatile heart, hath witnessed its strongest 1-month rise in recent times, a rebound as surprising as finding a decent cup of coffee in Moscow. This occurred after the rebound it underwent on April 7, 2025, a date that shall surely be etched in the annals of cryptocurrency history (or at least, in someone’s trading journal). Meanwhile, the price, like a character in one of my plays, faced extreme upward pressure last week, which halted the rally and got rejected exactly at the 50-day weekly MA. This rebound, technically speaking, is the new bullish leg of the multi-year rising wedge. A wedge, one might add, as sharp as a critic’s tongue. The 1-week MA 50 turned into a resistance when it last broke on the week of January 27, 2025. Once it breaks and closes above the range, one can expect a strong bullish upswing, like a sudden influx of rubles, that happened during late 2024. 💸

Therefore, all eyes, as keen as a hawk’s, will now be on the current weekly close, which is now expected to rise above the 200-day weekly MA and surpass the 50-day MA. As the weekly MACD hath already turned bullish, the ETH price, with a bit of luck and perhaps a prayer to the crypto gods, is believed to revive a strong rise back to the psychological barrier at $4000. However, breaking this barrier, like convincing a censor of the merits of free speech, is extremely crucial to keep up the bullish trend towards a new ATH. A trend, one hopes, as enduring as the Russian winter. 🥶

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2025-05-19 15:45