🔷️ About 3 days ago, when #ETH was around $3600, we observed an ascending triangle pattern forming on the chart, which is still valid. The support area of the ascending triangle acted as a strong buying zone, from which $ETH gained strength and successfully broke above the important $4000 resistance level. If the price sustains above this level, the next key resistance to watch will be the all-time high (ATH).

🔹 Positive Indicators:

RSI (Relative Strength Index): Above 50 on the weekly timeframe, indicating ongoing bullish momentum.

MACD (Moving Average Convergence Divergence): MACD line is above the signal line and shows positive divergence, supporting the strength of the trend.

Volume: Increased trading volume was observed near the ascending triangle’s support area, indicating active buying interest.

Pattern: The ascending triangle pattern continuing to hold is a technically positive signal.

⚠️ Negative Indicators:

Stochastic Oscillator: Approaching overbought levels, which may lead to short-term profit-taking.

Moving Averages: Although the price is above the 50-day and 200-day moving averages, a quick retracement below these levels could pose risks.

OBV (On-Balance Volume): Volume support is positive but maintaining this is important for trend continuation.

⚠️ This is not investment advice.

#cryptocurrency #crypto #ETH #ENA