ETH is currently at $4,650 ~ $4,700 which is above the previous key support sector, nearing a breakout! Bullish sentiment with the current trend bias as we see an ascending triangle forming from the dailies. Historically, ETH will rally 30 ~ 40% during Quarter 4.
Key Technical Indicator Summary
RSI (Relative Strength Index): 61.5
- Bullish band; breakout past 65
MACD (Moving Average Convergence Divergence): Bullish crossing
- Momentum builds as histogram turns positive
Stochastic Oscillator: 78
- Reaching overbought status; trend continues strong
CCI (Commodity Channel Index): 135
- Heavy momentum; bullish
ADX (Average Directional Index): 26.3
- Increasing trend; bullish past 25
EMA (20/50): Golden cross confirmed
- Both Short and mid term trend bullish signage
200 SMA: Rising
- Long term uptrend
Support and Resistance Levels to watch out for!
Major Support: $4,498
Minor Support: $4,332
Monthly Pivot: $4,245
Immediate Resistance: $4,750
Breakout Resistance: $4,915
Bullish Target 1: $5,200
Bullish Target 2: $5,800
Extended Target: $7,000–$8,000
We see volume increasing with green candles, bullish sentiment.
Daily transactions at a record high of 1.7 million.
Whale accumulation of ETH, bullish sentiment.
TVL rising, supply tightening.
Continued ETH inflows with increasing institutional demand.
ETH is trading above the key moving averages, bullish indicator.
If ETH breaks $4,915, I am expecting an accelerated boost towards the $5,800 – $7,000 range. I am also Bullish on Ethereum breaking out into the next price band with a target of $7,132 – $10,300 and a max bubble of $14,819 – $21,112.
Posted by bzzking
1 Comment
> Support and Resistance Levels to watch out for!
Nice.
On that note the question to ask the leverage traders is, which target will come next? 5k or 4.4k?
I’m feeling a very short term pull-back just to liquidate longs.
!tip 1