Ethereum (ETH) Analysis – Market Outlook
Ethereum is showing promising signs of recovery as it consolidates above key support levels. Currently trading around $3,100, ETH has maintained a bullish structure, forming higher lows on the daily chart. The recent increase in on-chain activity, coupled with consistent accumulation by whales, suggests growing investor confidence.
Key Technical Levels:
Support: $3,000 – $2,950
Resistance: $3,250 – $3,400
RSI: 56 – Momentum is positive but not overbought
MACD: Shows a potential bullish crossover on the 4H chart
Outlook:
If ETH breaks above the $3,250 resistance, we could see a rally toward $3,400 and beyond. However, a drop below $3,000 may invite bearish pressure. Traders should watch for volume spikes and confirmation signals before entering new positions.
Fundamental Note: With the Dencun upgrade fully integrated and Layer 2 scaling adoption accelerating, Ethereum's long-term fundamentals remain strong.
Verdict: Cautiously Bullish
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