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ETH Short-Term Analysis: Head and Shoulders Neckline Resistance and KDJ Golden Cross

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ETH
$2,943.06-1.83%
Ethereum (ETH) approached the 3,000 USD resistance level on Friday but has since pulled back near the head and shoulders neckline. The daily KDJ indicator shows a golden cross, with 4-hour and 12-hour moving averages also forming bullish crossovers. Immediate resistance sits at the Bollinger Band midline of 3,050 USD. A close above this resistance level for two days could push ETH toward 3,300 USD. A failure to break higher may send it back to test the 2,880 USD Fibonacci support. A breakdown below that would suggest a return to a weaker trend amid a cautious fear and greed index.
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