Ethereum price may come under attack from one final push by bears to swipe ETH lower.
Key resistance zones ahead in the Ichimoku system provide profit-taking and shorting opportunities.
Make or break zone for Ethereum is near.

Ethereum price jumped +4.57% yesterday and is presently up nearly +3% today. The new weekly highs come as Ethereum hits some significant resistance levels in the Ichimoku system. Failure to cross and hold above these Ichimoku levels will likely create a -15% drop towards the $2,900 value area.

Ethereum price has made consistent moves higher with little resistance or selling pressure over the past three trading days. However, Ethereum is now at a price level where bears may come in to attempt a push lower. The two near-term resistance levels in the Ichimoku system are the Tenkan-Sen at $3,478.50 and the Kijun-Sen at $3,519.68.

Another level bears will want to watch is the 55 value on the Relative Strenght Index. While the Relative Strenght Index remains in bull market conditions, a shift to a bear market reading could occur if 55 acts as a source of resistance, especially when Etheruem price is against the Tenkank-Sen and Kijun-Sen.

ETH/USD Daily Chart

Bulls can easily take over and eliminate any near-term bearish pressure, though. The Chikou Span is well above the candlesticks and does not have resistance in front of it. However, to maintain a confirmed bullish outlook, Ethereum price needs to close above the Tenkan-Sen and Kijun-Sen. Bulls may want to wait for the Composite Index to cross above both of its averages and to confirm Ethereum has a daily close above $3,600 to confirm a likely continuation move higher.

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