Ethereum’s Weekly 7% Gain and Future Direction

Title: Ethereum Reaches Crucial Decisional Point – Potential Breakout Could Lead to Significant Surge
Summary: Ethereum has reached a decisive point as it nears the head and shoulders neckline and the 100-day crucial moving average. A possible breakout could lead to a major surge due to a mass short liquidation cascade. The upcoming price action will determine Ethereum’s broader prospects.
Key Facts:
– Ethereum reaches key resistance region consisting of head and shoulders neckline and 100-day moving average at $2.7K.
– Low volatility sideways movement suggests indecision in the market between buyers and sellers.
– Successful breakout could lead to rise towards $3K threshold, while rejection could cause decline towards $2.3K support level.
– Concentrated liquidity pool above $2.7K indicates many short positions, meaning potential breakout could lead to significant gain through liquidation cascade.

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