#CryptoMarketCapBackTo$3T
#Ethereum has surged out of a tight consolidation range, breaking through the $1,700 resistance and briefly reaching $1,834 before a minor pullback. This move aligns with a broader trend of $ETH catching up to #bitcoin price action, though $ETH momentum still lags slightly behind.
Key technical signals are leaning bullish:
The RSI reached overbought territory near 70 before easing slightly — suggesting potential for continuation.
ETH is now trading above both the 20-day and 50-day EMAs, confirming short-term uptrend strength.
A notable spike in trading volume accompanied the breakout, indicating strong buyer conviction.
Support to watch: $1,700 — the previous resistance level, now turned key support.
Next resistance: $1,850+
Outlook: If ETH sustains above $1,700, a continuation toward higher levels remains likely. However, traders should monitor RSI cooling for possible short-term pullbacks or retests.
The question now is if there's gonna be a larger breakout rally, or probably this is just a temporary trap?
