Ethereum is gaining momentum and is trading above a major support level, with traders eyeing upside potential.
Ethereum (Ethereum) Up 1.1% in the past 24 hours, trading between $3,281 and $3,386, a rather healthy price move. The token is currently showing positive momentum as the price recently spiked after testing lower levels and is currently consolidating near the top of its 24-hour range.
Notably, Ethereum has gained 8.1% over the past seven days, indicating sustained upward momentum. Looking at the performance over 30 days, Ethereum is up 15.0%, indicating strong investor confidence.
Price action shows a V-shaped recovery for Ethereum, with the price testing and trading above key levels. intention Ethereum surge How to overcome further resistance?
Can Ethereum break through further resistance?
Ethereum’s daily chart shows that the price continues its recovery phase after the correction. Ethereum It is currently trading above several key dynamic levels. The price has regained the midpoint of the Fibonacci ribbon and is now above the 50-day moving average near $3,289, which is acting as short-term support.
Ethereum price analysis
This change suggests structural improvement, with buyers defending higher lows rather than allowing deeper declines. but, Ethereum It still faces layered resistance from the upper Fibonacci band centered between the $3,465 and $3,859 zone, which could limit any upside attempts in the short term.
In terms of trend strength, the ADX average directional index is currently around 26, indicating a moderate improving trend. This is not an extreme view, but it does confirm that momentum is being rebuilt rather than slowing down.
Is it Ethereum’s turn now?
Ted, analyst at X; suggest Now it’s Ethereum’s turn, with the daily chart showing an evolving technical setup. The chart shows that Ethereum A trade within an ascending triangle structure is marked by a horizontal upper trendline indicating sideways resistance and an upward lower trendline indicating a higher low.
ETHUSDT 1 day
This pattern is usually considered a potential bullish reversal formation, especially if the price starts to approach the upper limit. Ethereum We are currently doing this. Ted’s diagram suggests that Ethereum may be nearing a key inflection point and momentum could shift in favor of buyers if the triangle breaks to the upside.
