When a chart displays this kind of sustained pressure, it demands a close look from momentum traders. $ETH is up 7.82% over the last 24 hours, currently trading at 2425.37, backed by a strong technical score of 81.
The technical setup shows clear strength. Price action is trading well above the EMA20 at 2326.01 and the EMA50 at 2313.76, creating a clean bullish EMA structure that supports the ongoing upward move.
Momentum indicators align with this push. The MACD is printing at 33.23 above the signal line at 14.26, indicating solid expansion in buying pressure.
At the same time, the RSI sits at 70.62. While this reflects elevated conditions, it is not an automatic sell signal. However, because the price is strongly extended above the short term moving averages, watch for potential pullback or consolidation risk near the immediate resistance at 2450.
On the downside, support is established at 2226.44. A drop below this zone would invalidate the immediate bullish continuation setup. Trade carefully and manage your risk.
Are you looking for a breakout above 2450 or waiting for a retest of the EMA20 first?
#Ethereum #CryptoTrading #TechnicalAnalysis
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The technical setup shows clear strength. Price action is trading well above the EMA20 at 2326.01 and the EMA50 at 2313.76, creating a clean bullish EMA structure that supports the ongoing upward move.
Momentum indicators align with this push. The MACD is printing at 33.23 above the signal line at 14.26, indicating solid expansion in buying pressure.
At the same time, the RSI sits at 70.62. While this reflects elevated conditions, it is not an automatic sell signal. However, because the price is strongly extended above the short term moving averages, watch for potential pullback or consolidation risk near the immediate resistance at 2450.
On the downside, support is established at 2226.44. A drop below this zone would invalidate the immediate bullish continuation setup. Trade carefully and manage your risk.
Are you looking for a breakout above 2450 or waiting for a retest of the EMA20 first?
#Ethereum #CryptoTrading #TechnicalAnalysis
Follow me for more update 📊
