Ethereum has dipped to strong support at $2965. Our technical level coincides nicely with the 0.618 Fibonacci level, confirming its importance and the support it provides. However, the fact that ETH dipped below the $3K handle and did not see an immediate buyback suggests that it is now comfortable with the $2K handle. Additionally, we have a 'rounding off' in the price action and could test lower levels. There is a vacuum zone down to $2651 which coincides perfectly with the 0.236 level and we have a few more Fibonacci levels in between. We have a 50% level at $2889, which would be our next target for support if ETH continues to sell off.
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