Panama Just Flipped Bullish on Ethereum – Is a $3K ETH Breakout Next
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In a bold step toward digital innovation, Panama City has officially embraced cryptocurrency payments for public services, including taxes, permits, tickets, and fees.
Ethereum (ETH), alongside Bitcoin, USDC, and USDT, will be among the first digital assets accepted – marking a significant milestone in Latin America’s growing crypto adoption trend.
Panama City Mayor Mayer Mizrachi stated on X that while earlier administrations struggled to pass crypto-friendly legislation, his team bypassed the bottleneck through a simpler method that didn’t require new national laws.
Instead, the city will partner with banks capable of converting crypto to fiat, ensuring ease of use for both government agencies and residents.
Prior administrations tried to push a bill in the senate to make this possible, but we found a simple way to do it without new legistlation. Legally public institutions must receive funds in $, so we partner with a bank who will take care of the transaction receiving in crypto…
Ethereum Price Analysis – Where Is ETH Heading Next?
Looking at the Ethereum/USDT daily chart below, ETH appears to be breaking out of a months-long downtrend.
After finding support in the $1,500–$1,550 zone and consolidating near that base, ETH has pushed through the descending resistance line (marked in blue), indicating a potential trend reversal.
Key resistance levels stand at:
Immediate: $1,750
Intermediate: $2,100
Major: $2,400
Ultimate Bullish Target: $3,000+
Meanwhile, $1,500-$1,550 remains a key support for Ethereum. If ETH closes below this, the cryptocurrency may revisit $1,350-$1,400 range.
Source: TradingView
Additionally, the RSI (Relative Strength Index) is sitting near 40, confirming that ETH is still in the neutral zone – not overbought, which leaves room for upside momentum.
On the other hand, the MACD has confirmed a bullish divergence which could signal a trend shift, provided follow-through volume supports the move.
If ETH can reclaim and hold the $1,750–$1,800 level, we could see a rally toward the $2,100 region, which if flipped into support, opens the gates to $2,400 and $3,000.
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