Ethereum triggers a weekly Ichimoku Golden Cross, suggesting a bullish trend reversal as Tenkan-sen crosses above the Kijun-sen line.
RSI attempts to break its descending trendline, signaling potential momentum buildup and supporting further upside strength in Ethereum’s current move.
If ETH sustains current momentum, price could rally toward $3,100, aligning with the cloud’s top resistance and bullish confirmation zone.
Ethereum has triggered a bullish signal on the weekly chart, showing signs of growing momentum that may support higher prices. The cryptocurrency is currently trading at $2,688.72, reflecting a 2.72% increase in the past 24 hours and 4.77% in the last 7 days.
Ichimoku Golden Cross Points to a Bullish Trend Shift
According to technical observations shared by Titan of Crypto (@Washigorira), Ethereum has formed a classic Ichimoku Golden Cross. This formation occurs when the Tenkan-sen (red line) crosses above the Kijun-sen (blue line), often viewed as a trend reversal signal.
In this case, Ethereum’s price is also moving toward the Kumo cloud. A move through the cloud with continued momentum could confirm a stronger upside trend. This behavior suggests a possible setup for Ethereum to approach the next resistance target.
The golden cross aligns with Ethereum’s recent price uptick and may indicate the start of a broader trend. Technical traders often monitor Ichimoku signals on longer timeframes, such as the weekly chart, to gauge potential market shifts.
RSI Attempts Breakout From Downtrend Line
Adding strength to this development is a potential Relative Strength Index (RSI) breakout. The RSI, which had been trending lower for months, is now showing signs of piercing its descending resistance line.
This change in RSI behavior could confirm increasing buying pressure. If sustained, it may validate the underlying strength supporting the Ichimoku Golden Cross. Traders watch such technical confirmations for signs of renewed interest from market participants.
The RSI's breakout attempt offers a second layer of validation for bullish projections. Such alignments between indicators are often viewed as strong signals in market analysis.
$3,100 Target Could Emerge If Bullish Momentum Sustains
If Ethereum maintains current momentum, the next potential target sits around $3,100. This level aligns with the top of the Ichimoku cloud and marks a key resistance zone.
The tweet from @Washigorira notes that a clear breakout through this area could lead to further gains. Market watchers remain attentive to volume and follow-through buying as price approaches the $3,100 level.
A confirmed RSI breakout along with the golden cross could act as twin drivers, pushing Ethereum into a new upward phase.
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