🔷️ #ETH has been respecting a long-standing trend that has been in place since 2022. It continues to move within the channel shown by the blue line. This blue line represents a strong resistance level, which previously acted as a barrier to upward movement. If $ETH breaks above this resistance, potential targets according to Fibonacci levels are marked by the yellow lines. On the downside, support levels are indicated by the green lines, also based on Fibonacci retracement.
🔍 Indicators:
MACD: Positive crossover is holding, indicating bullish momentum.
RSI: Currently in the neutral zone (~54), not overbought or oversold room for upside.
Volume: Still below average; breakout confirmation would require increased volume.
200 EMA (Daily): #Ethereum is trading above it, suggesting a bullish structure.
📌 As long as $Ethereum remains within this upward structure, the technical outlook remains constructive. However, a rejection from the blue resistance could trigger a retest of green support levels.
‼️ This is not financial advice.
