ETH demonstrates a strong week: the price increased by 12.9% to $1,802.79, after a jump of 17.27% from a low of $1,537.26.
The technical picture supports a bullish sentiment.
MACD shows convergence, indicating a recovery of upward momentum after a short-term bearish crossover.
The RSI index indicates stability with potential for further growth, with no signs of overbought conditions.
Volume based on OBV is increasing, confirming the rising interest of buyers.
The expansion of Bollinger Bands indicates increased market volatility, which usually accompanies strong trends.
In my opinion, ETH is currently in a consolidation phase after the breakout.
Considering the technical signals, we can expect further gradual growth, provided that overall market support is maintained.
However, it is also worth considering the risk of short-term corrections if overall risk appetite in the market decreases or unexpected macroeconomic factors emerge.
