$ETH price holds firmly to the gains accrued over the last nine days, trading at $3,770 at the time of writing on Monday. The largest smart contracts token flaunts a solid bullish structure, backed by two recently confirmed Golden Cross patterns.
$ETH first Golden Cross pattern was validated when the 50-day EMA crossed above the 200-day EMA on July 10, and the second when the 100-day EMA flipped above the 200-day EMA on Sunday.
ETH/USDT daily chart
A breakout above $4,000 seems likely in upcoming sessions. Still, traders must practice restraint considering the extremely overbought conditions on the Relative Strength Index (RSI) at 87. Higher RSI readings tend to be a precursor to sudden pullbacks; therefore, it is essential to look out for $ETH potential support levels, such as $3,500, which was tested in January as resistance, and $3,217, which was tested in December as support.
