š” Quick technical analysis:
ā Strong price explosion! After ETH bounced from the $2,557 area, we witnessed a rapid upward wave reaching $2,720, reflecting massive buying interest and notably high volume movement.
ā RSI in the overbought zone! The Relative Strength Index (RSI) at 88.59 indicates that the price may need a correction soon, but continued momentum could push the price to higher levels before a pullback.
ā Positive MACD crossover! The difference between DIF and DEA shows strong momentum, enhancing the likelihood of continued upward movement in the short term.
š Expected scenario:
If ETH can hold above $2,700, we may see a quick test of the $2,750 area and then $2,800 as the next resistance. In case of a pullback, the $2,656 - $2,620 areas could provide strong support for regrouping before rising again.
š„ Is ETH ready for a new breakout?!
With this strong momentum and high trading volume, this could be a golden opportunity to ride the wave ā but be cautious of sudden corrections due to overbought conditions on smaller timeframes. š
š¢ Share your opinion! Do you see ETH surpassing $2,800 soon? šš
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š My personal opinion: The current momentum is very positive in the short term, but be prepared for the possibility of a quick profit-taking before the upward movement continues.