🔷️ Since July 2022, #Ethereum has adhered to a rising trendline (blue). Recently, it tested this line, rebounded impressively, and climbed to approximately $3,600. If it breaks the descending trendline, the price could begin to test the yellow resistance levels they should be monitored closely.
MACD: The monthly MACD has crossed bullish for the first time in 18 months historically signaling extended rallies echoing past surges in 2020 and 2023
RSI: On the monthly timeframe, RSI remains neutral, indicating room for upward movement before overbought conditions emerge
Short-term momentum: Hourly MACD has turned bullish and RSI is above 50, suggesting bullish bias in the near term
Institutional support & patterns: Ethereum has entered a Wyckoff markup phase above $3,500, supported by strong institutional ETF inflows
🔷️ #Ethereum is the leading smart-contract platform and the foundation of the DeFi and NFT ecosystems. Its transition to Proof‑of‑Stake enables staking rewards and significantly reduces energy use. Additionally, recent infrastructure upgrades (like Sharding and Layer‑2 scaling) continue to enhance its scalability and utility.
🔷️ Risks & Key Levels:
Downside alert: A sustained close below the trendline would require close monitoring.
Upside levels: Keep an eye on resistance marked in yellow particularly if the descending trendline is breached.
Perform your own due diligence and consider consulting a professional before making any investment decisions.
This is not investment advice.
