$ETH Regains Momentum — Is It Time for the Upward Surge?
Brief Technical Analysis: The pair #ETH/USDT shows positive rebound signals from a strong support level at $3,344, with the price trading back at $3,660, up +5.49% over 24 hours, indicating a recovery of some upward momentum.
Last Candle Type: The last candle on the 4-hour timeframe is a bullish engulfing candle, which is a strong candle showing buyer control and indicates the potential continuation of the upward trend, especially after a clear correction phase.
Supportive Indicators for Upward Movement:
RSI is trending upward (54.9) and moving away from oversold areas.
MACD shows the beginning of convergence of its lines, which may lead to a forthcoming positive crossover.
The price has broken above the MA10 line, which is an additional positive signal.
Entry Points, Targets, and Stop Loss:
Ideal Entry Zone:
Between $3,630 - $3,665
Potential Targets:
First Target: $3,750
Second Target: $3,938
Third Target (in case of a strong breakout): $4,150
Stop Loss:
Below direct support: $3,440
In your opinion, will ETH continue to rise and surpass the $4,000 barrier again? Share your predictions in the comments!
