Ethereum Weekly Analysis: Building Momentum, Challenging Key Resistance
This week, Ethereum formed a small bullish candlestick with a doji after last week's large bullish candlestick, with trading volume remaining stable. The price rebounded after testing the support level of $2120 and is currently above the weekly MA30 moving average, positioned right in the middle of the key red box area. Although the MA30 is still in a downward trend, the MACD shows that upward momentum is strengthening below the zero line, providing technical support for a bullish outlook this week.
Daily Observation: Following Bitcoin, Waiting for Breakthrough Opportunity
On the daily chart, Ethereum formed a candlestick with wicks on both sides yesterday, with trading volume moderately increasing, remaining within a normal fluctuation range. The MA30 moving average has begun to slightly tilt upwards, and the MACD is hovering near the zero line, indicating that the short-term direction is still unclear. The price is now above the daily MA30, and the trend largely depends on Bitcoin's movement. If Bitcoin successfully breaks through its previous high, Ethereum is likely to follow suit and test the upper resistance of the red box again. The market is at a critical turning point, and investors need to closely monitor changes in volume to confirm the validity of the breakthrough.
