CryptoPotato published an opinion article stating that the recent price trend of Ethereum has found support near the key 100-day moving average, and the market sentiment has shifted from bearish to bullish. Ethereum has started a bullish pullback and has now reached a key resistance area, preparing for the next move.
Technical analyst Shayan analyzed that Ethereum's daily chart shows that market sentiment has changed, and the 100-day moving average of $2,225 provides strong support. At the same time, Ethereum rebounded and the price pushed to key resistance areas, including the lower boundary of the expanding wedge pattern and the static price area of $2,600. If Ethereum breaks through this key resistance, it may herald a new round of bullish market and market volatility will increase. Therefore, Ethereum's price trend near this key area is crucial to judging the future trend of cryptocurrencies.
