Through my observation of Ethereum's movement
We see that the overall trend is upward in the short term
with a breakout above important resistance levels.
Technical Indicators:
Tell us that the price is trading above all major moving averages (9, 21, 50), indicating strong upward momentum.
And the MACD line is above the signal line, with a positive histogram, reinforcing the bullish signal.
And the RSI indicator is in the overbought territory, which may indicate the potential for a short-term correction.
Expected Scenarios
Bullish Scenario: If the price continues to trade above the $4400 level
it may target levels of $4500 and $4600 in the short term.
Corrective Scenario
In the event of a correction, the main support levels are at $4300 and $4200.
