Ethereum’s Comeback Trail: The Bullish Trendline Holds Strong
Once again demonstrating its resiliency, Ethereum has bounced powerfully off a long-term rising support trendline that has often set off significant rallies the past. Every time this rising trendline is challenged, it shows purchasers' fresh confidence. The most recent bounce, which shows obvious strength, points to Ethereum maybe preparing for yet another explosive climb higher.
More than simply a visual guide, this trendline represents a psychological and technical battlefield where bullish optimism has often resurrected to help ETH reject negative pressure when it counts most.
With this constant confirmation, the trendline is now clearly established as the basis for Ethereum's positive structure.
Should ETH be able to break sharply above the $2,030 to $2,160 resistance zone, it would allow a notable shift toward the $2,540 mark. This situation prepares one for fresh faith in Ethereum's long-term course.
Usually signifying the beginning of great momentum, the 1-day MACD has lately entered positive territory and crosses over the signal line. The crossing becomes much more important when coupled with a rise in volume as it shows the possibility for a long-lasting rally.
Conversely, the 1-day RSI has been steadily rising and finds itself in the neutral to somewhat positive zone, so the asset is not yet overbited. Usually indicating good momentum, a reading over 50 supports the concept that the market is getting ready for a breakout as the RSI keeps trending upward.
These two markers taken together are lining up to support the idea of a revived increasing momentum. Particularly when price movement crosses important resistance levels, traders should be on lookout for confirmation to substantiate the indications given by the MACD and RSI.
