The monthly line is a bearish candlestick with long upper and lower shadows in a doji formation, with trading volume around three-quarters of the previous month, and the price closed above the monthly MA30 line.
The monthly MA30 line remains in an upward trend, and the MACD shows a weakening momentum below the zero axis. The monthly outlook is bullish, with potential highs of 2900-3000.
The daily line is a small bearish candlestick with a long lower shadow and a short upper shadow, with trading volume one-third higher than the previous day, which falls within the normal trading volume range. The daily MA30 line still shows a downward trend, but the angle of descent is decreasing, and the MACD below the zero axis is showing a slowly strengthening upward trend.
If the price stays close to the MA30 line, then it won't constitute pressure here, making it easier for the price to break through and continue to challenge higher resistance levels.
The trend clearly follows Bitcoin, so if Bitcoin rises, Ethereum will also rise. This view is consistent with yesterday’s; the central axis of the red box area will be the recent resistance level, and at these two positions, there will be hourly pullbacks. The higher it goes, the greater the pressure, and the larger the pullback will be.
The Ethereum ecosystem's altcoins will follow with a wave of increases; these can all take a short-term upward trend.
Daily resistance levels are 2620-2730-2890, and support levels are 2410-2310-2120.
