Ethereum had a rocket movement yesterday as usual lately starting from around 2600 and rising to 2744, meaning approximately +6.5% in a day 😳 and then continued the surge today reaching 2834.86 but be careful… there are candles that made long upper shadows and this is a sign that large players are selling from above.
📊 What did the trading volume tell us?
On the first day of rise, the volume literally exploded, people entered with amounts exceeding 560,000 ETH (which is about 1.5 billion dollars, my friend 💸). But when the price approached 2700+… the volume started to calm down.
This indicates that some people entered early and others started to worry at high prices… so be careful.
🧠 What do the indicators tell us?
✅ RSI on the hourly and 4-hour frames is entering clear buying saturation (above 70) on the daily around 60–65 → there is still room for rise but let’s monitor closely.
✅ MACD had a positive crossover, the upward momentum is working but the histogram is decreasing a bit → meaning the momentum is losing some of its strength.
⚠️ Stoch RSI + KDJ
Stoch RSI is almost zero (strange selling saturation but a rebound might happen)
KDJ: K line above D → temporary rise but J line above 80 → we might see a cooldown.
❗ Williams %R around -67 → means the price is not at its peak, but there is light pressure from sellers.
🔥 Very important levels
📉 Support levels at 2640 are a strong area where the price could bounce back if it drops after that 2545, then these are potential accumulation areas if a deep correction occurs.
📈 Resistance levels 2834–2850 the current highest peak, if broken the path is open with medium resistance at 2788 → if the price continues to fluctuate around it and can't continue, it could be a liquidity trap.
📅 General view (from today's frame)
The general trend is upward
The price broke strong resistance levels recently and is still above the main support (2400–2450) as long as the price maintains this support… the rise is very likely to continue. But buying saturations at peaks might make the price breathe a little.
📈 If you plan to buy
Wait for the price to return to 2640–2660 → these are good buying areas if you plan to, and set a stop loss below 2590 cautiously. The initial target is 2788 then 2834, and after that we will see the market.
📉 If you plan to sell or hedge, monitor 2788–2800 → if the price starts to reject these levels along with reversal candles + saturation indicators, then you might sell from above targeting 2660.
🎯 The market yesterday and today has a risk appetite.
💬 My question for you is where do you see Ethereum going, and could there be a sharp reversal from above?
Give me your opinion in the comments ✍️
And this is of course just an analysis and opinion, not financial advice 😊👻
