Ethereum (ETH) is looking strong right now. It’s been steadily climbing above its trendline, which suggests it’s ready for a big move.
Ethereum’s Bullish Momentum
The price of ETH is currently trading around $3,500 and has been gaining value. It’s already broken through the $3,360 resistance level and is now aiming for the $3,659 mark.
Here’s what the charts are saying:
- 4-hour chart:
ETH is above its 100-day moving average (SMA) and the Composite Trend Oscillator suggests it could continue its upward trajectory. - 1-day chart: ETH is above both the 100-day SMA and the bullish trendline. The Composite Trend Oscillator is showing positive signs, suggesting a potential continuation of the bullish move.
What’s Next for Ethereum?
If ETH can break through the $3,659 resistance level, it could potentially reach $3,975.
However, if it fails to break through, it could pull back to the $3,360 support level. If that level breaks, it could drop further to $3,051 or even lower.
So, what does this mean for traders and investors?
It’s important to keep an eye on ETH’s price action and technical indicators. If it continues its bullish momentum, it could be a good time to buy. But if it starts to pull back, it might be wise to wait for a better entry point.
