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Just a few days later, it rose above the $2,000 threshold and, along the way, it sent a couple of technical buy signals in the form of short-term EMA crossovers and key-level breakouts mostly.
This behavior is consistent with ETH’s historical patterns. In this scenario, we set a first target for ETH at $3,000 as it would involve a retest of its former trend line support – now turned into resistance.
The price has temporarily encountered selling pressure at the $2,750 level but another huge buy signal has been triggered – a bullish crossover between the 9-day and 200-day EMAs.
The last time this happened during an uptrend, the price of ETH more than doubled in just a few months.
Hence, our price prediction is still unfolding as expected with a first target set at $3,000. Then the next question: is it possible for ETH to climb to higher ground?
Keep an Eye on This Sell Signal
Retesting a former trend line from below is a classic bearish confirmation if the price rejects it once again. This trend line resistance (former support) comes from the weekly price action and that makes it more relevant than daily price patterns and signals.
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