Bitgirl
09/04 17:18
ETH Price Technical Analysis The fourth main cat
ETH Price Technical Analysis
The fourth main catalyst why Ethereum price may surge to $5,000 and beyond is that it has strong technicals. The three-day timeframe shows that the coin sits at the weak, stop, & reverse point of the Murrey Math Lines indicator.
This means it has a long way to go before it reaches the extreme overshoot point at $6,250. Most importantly, the ultimate resistance is at $5,000, raising the possibility that it will get to that level soon.
ETH price has also retested the support at $4,100, the highest level in December. A break-and-retest pattern normally confirms a bullish breakout.
On the flip side, a drop below the support at $4,100 will invalidate the bullish ETH price forecast for 2025, and point to more downside, to the major S/R pivot point at $2,500.
#Post To Earn Bonus#Claim1,200 USDT in the Monthly Creation Challenge#HTX community ✖ SUNPUMP Creator Championship#GameFi playing you? $SOMI returns control.# Convert Discord activity to $WLFi.
12Share
All Comments0LatestHot
No records