Ethereum: Testing Key Resistance
Ethereum is currently trading within a bullish channel, maintaining a steady climb above its local support levels. The MACD indicates a bullish trend with the histogram in positive territory, reinforcing the upward momentum. However, traders should watch for any volume decline, which may signal a weakening of the current trend and a potential pullback.
The upper Bollinger Band, positioned at $3173.78, could pose a challenge as ETH approaches. A decisive breakout above this level could pave the way for further gains, while any reversal here might suggest a short-term retracement.
The RSI is relatively high at 71.49, suggesting that ETH is in the overbought zone, which traditionally calls for caution among traders. Should a correction occur, the lower Bollinger Band at $2930.87 and the Simple Moving Average (SMA) at $3092.55 stand out as key support zones.
The upper Bollinger Band, positioned at $3173.78, could pose a challenge as ETH approaches. A decisive breakout above this level could pave the way for further gains, while any reversal here might suggest a short-term retracement.
The RSI is relatively high at 71.49, suggesting that ETH is in the overbought zone, which traditionally calls for caution among traders. Should a correction occur, the lower Bollinger Band at $2930.87 and the Simple Moving Average (SMA) at $3092.55 stand out as key support zones.
💎 We believe that everyone can trade and deserves the opportunity to succeed in the world of cryptocurrency and take advantage of its potential.
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.