Ethereum (ETH) is slowly but surely climbing, getting closer to a really important technical indicator: the 100-day Simple Moving Average (SMA). This isn’t just some random line on a chart; it’s a major battleground for buyers and sellers, often deciding the next big price move. Will ETH break through and rally, or will it get stuck?
The 100-Day SMA: A Key Resistance Level
The 100-day SMA is a widely watched indicator showing the medium-term price trend. For Ethereum, breaking above it could signal a bullish run, leading to higher prices. But if it fails, we might see more sideways trading or even a price drop.
Ethereum’s Price Struggle: Can Buyers Take Charge?
Ethereum’s climb towards the 100-day SMA has been tough. While buyers have stepped in at key support levels to prevent big drops, the price hasn’t seen strong upward momentum. The volume hasn’t been high enough to push ETH higher.
What the MACD Indicator Says
The MACD (Moving Average Convergence Divergence) indicator hints at a possible shift in momentum. While the MACD and signal lines are approaching a bullish crossover, it hasn’t happened yet. The narrowing histogram suggests a move from bearish to neutral or bullish, but we need more confirmation. A clear bullish crossover with expanding histogram bars would strengthen the case for an upward move. Without it, Ethereum could stay flat or even drop.
What a Breakout Means
Breaking above the 100-day SMA would be a strong signal for Ethereum bulls. It would show that a key technical hurdle has been overcome, potentially attracting more investors. If this happens and the price keeps rising with strong volume, ETH could target $2,160. Further gains could push it towards $2,858 and even $3,360.
However, if the breakout fails, Ethereum could see renewed selling pressure, leading to a drop towards the $1,523 support level. This level has historically held up, so buyers might try to defend it.
