$ETH /USDT: Riding the Upper Band – Is the Rally Sustainable? 🤔👀
#Ethereum has been on a steady ascent, and the 12-hour chart offers clear evidence of bullish strength. Here’s what stands out:
Strong Base Established:
🚀🚀 ETH found support around $2,373 in late June, forming a reliable springboard for this rally.
Bollinger Bands in Bull Mode:
Upper Band (UB): $3,380
Middle Band (MB): $2,934
Lower Band (LB): $2,488
Price has been “hugging” the upper Band, a textbook sign of sustained buying pressure and widening volatility.
🔥 Current Metrics:
Trading at $3,330 (+6.97% in 24h)
24h high of $3,425, 24h low of $3,101
⚡ Volume Confirmation:
1.16 M ETH traded (24h)
$3.82 B USDT volume—strong backing for this move
☀️ Key Levels & Potential Scenarios:
1. Bullish Continuation: A decisive break and close above $3,425 on the 12-hour chart could signal further upside, with the upper Band guiding the trend.
2. Healthy Retracement: A pullback toward the Middle Band at $2,934 may offer a lower-risk entry, provided buyers defend that zone.
3. Sideways Pause: Consolidation between $3,100–$3,380 could allow indicators to reset before the next leg.
