Ethereum’s $3,000 Crossroads: Buy the Dip or Brace for the $2,000 Cliff?

ETHUSD trades in a narrow range amid poor institutional demand. It hit a high of $3241 and is currently trading $3145.

Oscillators and moving averages to forecast the trend of ETHUSD

CMP- $3145

EMA (4-hour chart)

55-EMA- $3040

200-EMA- $3180

365-EMA- $3400. The pair trades above short and below the long-term moving average.

Major Support - $2960. Any breach below $2960 will drag the pair down to $2900/$2600/$2500/$2300/$2000.

Major Resistance - $3320.  Any break above $3100 confirms minor bullishness, a jump to $3458/$3565/$3700/$4000.

Indicators (1-hour chart)

CCI(50)- Bullish

ADX-  Bullish

5. Investment Strategy for ETHUSD

It is good to buy on dips around $2958-60 with a stop loss around $2700 for target profits of $3540/$3600.