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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