$ETH Has shown mixed performance, with a -2.18% change over the last day, a 40.96% increase over the past week, and a 57.26% gain over the last month, but a -23.35% decline year-to-date.

Key Technical Indicators

Moving Averages:

50-Day Simple Moving Average (SMA): Estimated at $1,945.37 by June 14, 2025, suggesting a potential short-term bearish trend as it’s below the current price.

200-Day SMA: Projected to drop to $2,358.41 by June 14, 2025, indicating a weaker long-term trend.

Trend Analysis: The 50-day SMA being below the 200-day SMA (a "death cross") signals bearish momentum in the short term compared to the longer-term trend. However, some sources note a rising 50-day SMA on a four-hour chart, suggesting short-term bullishness.

Relative Strength Index (RSI):

Current RSI: Approximately 76.11 (14-day), indicating overbought conditions (above 70). This suggests potential for a pullback as the market may be overvalued at current levels.

Implication: An overbought RSI often precedes a correction, but strong bullish momentum could sustain prices temporarily.

Support and Resistance:

Support: Key levels at $2,442, $2,150, and a stronger base at $1,528.

Resistance: Immediate resistance at $2,810, with higher levels at $3,000 (psychological) and $4,864 (all-time high from November 2021).

Bullish Case:

ETH’s recent 45% rally last week and breakout above a descending channel pattern suggest strong bullish momentum.

A breakout above $1,850 could push ETH toward $1,950–$2,129 in the short term, with potential to test $2,810 if momentum persists.

Bearish Case:

Overbought RSI (76.11) and a potential pullback to support levels like $2,442 or $2,150 are possible if selling pressure increases.