Ethereum Bull
1. Trend
• After reaching the high of 2,505.42, the price experienced a sharp decline down to 2,434.84.
• A trend reversal followed, confirmed by a series of green candles and a moving average crossover.
2. Moving Averages
• The yellow line represents a short-term moving average (e.g., 7-day), reacting quickly to price changes.
• The pink line is a mid-term moving average (e.g., 25-day).
• The purple line is a long-term moving average (e.g., 99-day).
3. Signals
• A bullish crossover (golden cross) occurred between the yellow and pink lines, indicating a potential uptrend.
• The price is currently trading above both the short- and mid-term MAs, which is a bullish sign.
• The latest candle is red, possibly signaling a short-term pullback after a recent rally.
4. Support and Resistance
• Nearest support is around 2,462–2,470, which aligns with recent consolidation and MA intersections.
• Resistance lies around 2,494–2,505, near the previous local high.
Summary
• The market shows signs of a recovering uptrend after the drop.
• As long as the price remains above the moving averages, further upside is possible.
• Watch closely to see if the price breaks the resistance at 2,494–2,505 or gets rejected.