ETH/USD side way chart DEtherum side way chart D1 : COINBASE:ETHUSD
Based on our analysis of the ETH/USD weekly chart using Heikin Ashi candles:
- **The 9th weekly candle**: This signals a potential reversal, especially since the 9th candle is often the final one in a series of increases or decreases according to the TD Sequential system.
- **Current price around $2,620**: This could be a strong support level, and with the other factors mentioned, there is a possibility that the price will rise from here.
- **Trading volume**: There are signs of it increasing again, indicating renewed interest in buying from the market.
- **RSI at 40**: Near the oversold region, and when RSI rises from below 30, this can further support a reversal to the upside.
- **Low gas fees**: This is a positive sign for Ethereum users, potentially boosting network activity and thus supporting the price of ETH.
- **Whale activity**: When large investors start buying, this is usually a positive sign in the long term.
Combining these factors, ETH is likely to see growth in the near future. However, we should closely monitor the resistance levels on the way up to make appropriate investment decisions.
