Ethereum Price Analysis: After a 35% Rise, Is ETH Ready for a New Uptrend?
- Ethereum has broken a prolonged bearish structure, with strong momentum pushing the price toward the $2.5K area, but it may face a temporary pullback or consolidation if supply increases.
- The daily chart shows ETH is testing the $2.4K-$2.5K resistance zone, while the RSI is in the overbought region, suggesting the market may need to cool off before continuing higher.
- Sentiment analysis indicates liquidity is distributed evenly on both sides of the current price level, implying the possibility of sideways accumulation or a price sweep before the next trend is confirmed, despite the overall bullish momentum.
Source: CryptoPotato
🌍 Updated by GemCrypto
$ETH
#Ethereum #Crypto
- Ethereum has broken a prolonged bearish structure, with strong momentum pushing the price toward the $2.5K area, but it may face a temporary pullback or consolidation if supply increases.
- The daily chart shows ETH is testing the $2.4K-$2.5K resistance zone, while the RSI is in the overbought region, suggesting the market may need to cool off before continuing higher.
- Sentiment analysis indicates liquidity is distributed evenly on both sides of the current price level, implying the possibility of sideways accumulation or a price sweep before the next trend is confirmed, despite the overall bullish momentum.
Source: CryptoPotato
🌍 Updated by GemCrypto
$ETH
#Ethereum #Crypto
