$ETH $ETH A bullish engulfing pattern on the weekly chart, suggesting a potential reversal if momentum builds. A cup-and-handle pattern is also mentioned on the weekly timeframe, which could resolve higher if ETH holds above $2,150.

Key Technical Indicators

Moving Averages (MAs):

50-day SMA: $1,917.65, acting as resistance above the current price, indicating a bearish short-term trend.

200-day SMA: $2,708.00, significantly above the current price, reinforcing a weak long-term trend.

20-day EMA: $1,713, recently tested but not decisively broken, suggesting bulls are attempting a recovery.

200-day EMA: ~$2,612, a critical level for any sustained bullish momentum.