$ETH Weekly Update
Ethereum did exactly what was outlined earlier. Price lost the $3,000 level, dumped into the $2,800 zone, and has now bounced back toward the 1W 50 EMA. This bounce changes nothing structurally..
Right now ETH is testing a key decision area. The 1W 50 EMA is acting as resistance. If ETH manages to hold above $3,300, a squeeze toward $3,600–$3,800 is very possible. That zone is where risk shifts back in favor of shorts, and I would look to add there aggressively.
Downside targets remain unchanged:
First target $3,000
Second target $2,600
Final target $2,200
Same logic applies