The bulls are back with a vengeance! Is it time to take off?
The ETH/USDT shows encouraging technical signals on the 1-hour time frame, as we see a strong rebound from the $2476 area, bringing the current price to $2603 with a +1.20% increase over the past 24 hours!
Key points from the technical analysis:
MACD shows a clear positive crossover, supporting the upward trend.
RSI at 54.76: has not yet entered the overbought zone, indicating there is room for further upward movement.
KDJ indicator gives positive crossover signals near 55, enhancing the chances of a price explosion.
Next resistance level: $2673 - if broken, we head towards $2738!
Strong support: $2504 - considered a safety barrier in case of any correction.
Will we witness a strong breakout soon? Or will the bears return to face off? Stay tuned for more analyses!
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