$ETH #ETH Ethereum is showing clear signs of rebuilding strength after spending weeks under heavy selling pressure. The daily chart reveals a steady recovery from the recent low near $1,505, with buyers consistently defending higher lows. This structure is important because it suggests that confidence is gradually returning instead of a short-lived relief bounce.
Price is now trading around $1,968, slightly above the 100-day moving average, while remaining below the 200-day MA near $2,135. Holding above the 100-day MA is often viewed as a positive signal, but the 200-day MA still acts as the major resistance that could decide Ethereum's next medium-term trend.
Another encouraging sign is the alignment of the shorter moving averages. The 30-day MA has crossed above the 50-day MA, showing improving momentum as buyers continue pushing the market upward. The recent series of green candles also indicates healthy demand instead of a single impulsive move.
If ETH successfully closes above the psychological $2,000 level, momentum could accelerate toward $2,100-$2,150, where stronger resistance is expected. A breakout above that area would likely strengthen the bullish outlook for the coming weeks.
On the downside, traders should monitor $1,900 as the first support, followed by $1,800. Losing these levels could trigger profit-taking before another recovery attempt.
Price is now trading around $1,968, slightly above the 100-day moving average, while remaining below the 200-day MA near $2,135. Holding above the 100-day MA is often viewed as a positive signal, but the 200-day MA still acts as the major resistance that could decide Ethereum's next medium-term trend.
Another encouraging sign is the alignment of the shorter moving averages. The 30-day MA has crossed above the 50-day MA, showing improving momentum as buyers continue pushing the market upward. The recent series of green candles also indicates healthy demand instead of a single impulsive move.
If ETH successfully closes above the psychological $2,000 level, momentum could accelerate toward $2,100-$2,150, where stronger resistance is expected. A breakout above that area would likely strengthen the bullish outlook for the coming weeks.
On the downside, traders should monitor $1,900 as the first support, followed by $1,800. Losing these levels could trigger profit-taking before another recovery attempt.