Bullish Reversal Signals: Ethereum re-enters its weekly range, signaling a potential trend shift with $4,100 as the next target.
MACD Confirmation: A bullish crossover on the MACD supports upward momentum and growing buyer strength.
Volume Dip & Consolidation: Despite a 21% drop in trading volume, ETH is consolidating, suggesting traders are watching for a breakout.
Ethereum is making headlines once again as bullish momentum begins to take shape across higher timeframes. After a period of price weakness and deviation below key support levels, the second-largest cryptocurrency by market cap has clawed its way back into a critical weekly range.
Technical analysts such as Titan of Crypto suspect that the trend is turning around, and there is a prospect of upside targets to values close to 4,100. Even with subtle movements in price throughout the day and a decrease in the volume of the trading, ETH seems to be creating the conditions under which it can experience a breakout in several weeks.
Reclaiming the Range
According to Titan of Crypto, Ethereum ($ETH) has made a significant technical move by reclaiming its position within the established weekly range after previously deviating below the range lows. The chart highlights this reintegration as a bullish signal, suggesting a potential trend reversal. The deviation marked a temporary dip, but the swift recovery implies strong buyer interest. Technical momentum appears to be shifting upward, as ETH now consolidates within the range, targeting the upper boundary around the $4,100 level.
Adding to the bullish outlook, the MACD indicator at the bottom of the chart shows a recent bullish crossover, often interpreted as a precursor to upward momentum. This development further supports the case for a rally toward the top of the range. Titan of Crypto emphasizes that the high end of this range, previously tested during bullish market conditions, is likely the next “magnet” for price action. If momentum sustains, this could signal a broader recovery phase for Ethereum in the coming months.
Calm Before the Surge?
As of the latest data, Ethereum (ETH) is listed at 2,518.24 with a minimal 0.08% downfall on a daily basis, according to CoinMarketCap statistics. The 24-hour trade volume has been cut significantly, by more than 21 percent, down to $12.7 billion, which is a very salient indication, as it means that the market activity has decreased considerably.
Nonetheless, ETH continues to have a good market cap of about 304 billion and a circulating supply of 120.71 million tokens, though there has been a slight price decline. The short-term price chart is chaotic in motion, as ETH is ranging to find its support at lower levels of USD 2,470 and finding the level at upper levels of USD 2,530 across the day, which shows the continuous consolidation as traders are waiting to see a discernible directional movement.
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