$ETH
🚨ETH Price Prediction: Pressure Building🚨
From a technical standpoint, the 4-hour chart reveals a rise in the Bull Bear Power (BBP) indicator. The BBP measures the balance between buying and selling strength.
When the BBP is negative and shows red histogram bars, it signals bearish control and potential price decline. However, the BBP is positive in this case, indicating that bulls are currently in control.
If this momentum holds, Ethereum’s price could break above the $2,748 resistance level, especially as the price trades above the upper boundary of a descending channel.
A successful breakout could lead to a climb to $2,880 and possibly a retest of the psychological $3,000 mark.
However, if bearish momentum returns, this bullish outlook could be invalidated, with ETH potentially dropping back to $2,322.