🔷️ On the daily timeframe, #Ethereum completed a bull flag formation, reaching a technical level before undergoing a healthy correction. This correction was met with a strong bounce from the lower boundary of a rising triangle, triggering another upward move in the $ETH price.
If the formation continues to play out, the technical resistance level marked by the purple line can be monitored.
📊 Technical Indicators:
✅ RSI (~60): Close to the overbought zone but still supporting upward momentum.
⚠️ MACD: Recently crossed to the upside, indicating growing buyer strength; confirmation is still needed.
⚠️ ADX (~25): Around the threshold; a move above 25 would confirm a stronger trend.
✅ Volume: Increased during the recent dip, signaling renewed buyer interest.
‼️ The rising triangle’s support band should be watched closely. While the technical outlook remains positive, confirmation from indicators is essential for a sustainable move.
⚠️ This content is not investment advice. Crypto assets carry high risk; please do your own research before making any trading decisions.
