Ethereum (ETH) has made a strong recovery after facing resistance at $2,871. Since then, the price has climbed over 9%.
Technical Indicators
100-Day Moving Average and Trendline:
ETH is currently approaching these indicators but is still trading below them. This suggests a potential reversal could occur.
RSI Indicator:
The RSI signal line is above 50, indicating bullish momentum.
4-Hour MACD Indicator:
The MACD histogram is above zero, and the MACD and signal lines are crossing towards zero. This suggests sustained upward movement.
Resistance and Support Levels
- Resistance: $3,250 and $3,355
- Support: $2,819
Potential Price Action
If ETH breaks above $3,250, it could continue to $3,355. However, if it fails to break resistance, it may fall back to $2,819. If this support is breached, ETH could establish a new low.
