ETH/USD Holding Key Support – Potential Bounce Toward 2930

[nihalsari]

The market previously experienced a sharp sell-off, followed by sideways consolidation.

A Fair Value Gap (FVG) is marked in the middle of the chart, created by a strong impulsive move, suggesting a potential area price may revisit.

Price recently rejected near the descending trendline and dropped back down.

A clearly defined support zone (shaded area near the bottom) is holding price for now.

From this support, a bullish reaction is anticipated, with a projected move upward.

The indicated target is around $2,930, aligning with prior structure and resistance near the trendline.

Overall, the chart illustrates a pullback into support within a downtrend, with a potential short-term bounce toward resistance if the support

[Nahid Hossen]

ETH holding this support is a good sign for short-term bulls.