The main focus for Etherum is the $3,000 support level. ETH tested this level back in October, held if and began a strong rally that took it above $4800. The question now is whether ETH will be able to hold support. As the coin is oversold, there’s a reasonable chance to believe $3000 will attract fresh buyers. The support level is strong but not strong enough if Bitcoin breaks down. Ethereum is currently holding the support level of $3089, fib 1.272. The next support zone for Ethereum is immediately below $3,000 is $2600, fib 1.618. On the daily chart, Ethereum has initial resistance at EMA 100 near $3591.
