Ethereum (ETH) Price Chart Looks Primed for Further Gains in the Coming Weeks.

#TrendingTopic #Etherrum #ETH✅

Ethereum has rallied by over 80% since the January 23rd low print at $2,165 producing a fairly constant series of higher highs and higher lows. The one major short-term sell-off on Tuesday, March 5th was quickly recovered, underpinning the recent strength of the move, and an attempt on the $4k ’big figure’ resistance level seems likely as long as current market sentiment remains upbeat. As always with an asset class as volatile as the cryptocurrency sector, strong risk management is needed.

Today’s US Jobs Report can move a range of asset classes, including the cryptocurrency space, in either direction so attention to the 13:30 release is needed.

The weekly Ethereum chart shows the strength of the recent move and this has taken ETH into heavily overbought territory using the CCI indicator at the bottom of the chart. This needs to be normalized to allow Ethereum to continue to move higher. Above $4k a series of descending highs from October 2021 appear ahead of the mid-May 2021 swing high at $4,400. Above here, the all-time high at $4,860 comes into focus. Initial support on the weekly chart at $3,585.

$ETH