3 min readETHEREUM (ETH/USD)
Ethereum seems to be gaining momentum again, with price action closing up over 14% week-on-week. At the moment, it appears we’re moving toward the resistance area around $2,800. This also aligns perfectly with the 50% level on the Fibonacci tool, so I’ll be closely monitoring how the price reacts in this zone.
If we break through this resistance, the next key area to watch would be the daily descending trendline, which coincides with the $2,900 region. While the RSI currently doesn’t indicate overbought conditions, it is trending higher towards the 70% level. I’ll be paying close attention to how the price behaves in these areas of interest, as well as around the 70% RSI level.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
