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cryptoworld

08/24 14:54

Ethereum Technical Picture: Bull Flag and Breakout

Ethereum Technical Picture: Bull Flag and Breakout Potential

On the technical analysis side, ETH is building strength, supporting a bullish Ethereum price prediction. Price action has carved out a bullish ABCD harmonic pattern, with the surge to $4,900 confirming strong conviction buying.

Since then, ETH has been consolidating just beneath resistance, forming what resembles a bull flag—a continuation structure that often precedes another push higher.

Momentum remains constructive. The RSI sits at 65, showing strong demand without tipping into extreme overbought territory, while the MACD has flipped firmly bullish, with widening histogram bars pointing to building momentum.

Candlesticks reveal higher lows and tightening consolidation, suggesting healthy accumulation rather than exhaustion.1000055111

Key levels stand out: support at $4,600 and $4,420, resistance at $4,900. A closing of candles just above $4,900 can open further room for buying until $5,300, with odds of extending upward toward $5,700 and even the psychological $6,000 mark in the near term.
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