Ethereum Price Inches Higher, Building Pressure for a Follow-Through
Ethereum price failed to clear the $3,220 resistance and dipped. ETH is now attempting to recover and faces an uphill task near the $3,150 level.
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- Oil prices remain low despite geopolitical tensions in major producing countries, as traders now focus more on actual supply than reserves.
- Demand for fossil fuels is slowing due to rising electric vehicle adoption, energy efficiency, and renewable alternatives, keeping price rallies in check.
- Crude oil and natural gas charts signal weakness, with key resistance levels holding and downside breakouts suggesting further bearish momentum ahead.
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