ETH explodes, aiming for $ 5K

• Key Support: $ 4,354
• Key Resistance: $ 5,075

After a short-term correction last week, ETH found support at USD 4,354 and rebounded to hit a new all-time high today.

The main resistance is at $ 5,075 where a fierce battle between the bulls and the bears is likely.

ETH / USDT daily chart | Source: Tradingview

Technical indicators

Trading Volume: The trading volume was low at the end of the week. However, the cops kicked in heavily today and drove ETH up. This is a great move that can bring ETH to $ 5,075.

RSI: The RSI remains just below the 70 mark in the daily timeframe. A cut across it confirms that the bulls are in complete control of the market.

MACD: The MACD has refused to make a bearish cross on the daily time frame and is sloping up. Shows that the short-term trend is increasing faster than the long-term trend.

ETH / USDT daily chart | Source: Tradingview

Perspectives

Price movements and technical indicators favor the continuation of the uptrend.

Therefore, ETH can rebound towards USD 5,075 before encountering significant resistance from the bears.

You can see the ETH price here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Cryptopotato

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