Ethereum shows interesting technical models at the moment, and some analysts are starting to make comparisons with his behavior in 2020. You may remember this period – it was just before things take off. The main thing that attracts people’s attention is a specific signal to the monthly graphic, something called a MacD crossover. It happened, and it is not a common show. The last time this particular configuration appeared, it was years ago, and it preceded a fairly large break.
A repeated familiar motive
A crypto trader who passes through Merlijn the merchant pointed out, calling him a “monster ignition”. He suggests that a three -year consolidation period could finally end. The graphics he shared show Ethereum exceeding a downward trend line, then stepped back to test this old resistance zone, which now acts as support. It is a model that looks extremely like what was played at the end of 2020. At the time, after a similar retest, the price has just climbed and climbing. He maintains that history could offer a second chance here.
But of course, past performance is only that – in the past. This does not guarantee anything for the future. For this optimistic perspective to really gain ground, Ethereum must push decisively above a level of key resistance around $ 4,450. It seems to be the line in the sand. If that can unravel this, well, then things could become more interesting.
Key levels to monitor
For the moment, the price resists. He recently found a floor with his 50 -day exponential mobile average, which is located around $ 4,164. This is generally considered a positive sign – it means that buyers intervene to defend this level. Perhaps more importantly, the price is currently above all its other medium-sized medium-sized. This generally provides a fairly solid base and suggests that the overall trend could always be healthy.
Another indicator, the relative resistance index (RSI), is sitting just around 52 on the daily graphic. It is a fairly neutral territory. This does not show that the market is exaggerated or occurred, which could be a good thing. It leaves room for a movement in both directions, but it could also mean that there is potential for a progressive rise without a huge sale.
As it stands, Ethereum is negotiated about $ 4,360. It’s a bit for the day, although slightly down for the week. The volume of trading has been substantial, which generally means that there is real interest and an activity behind these price movements. This is a situation to look at, even if you are naturally skeptical about this kind of prediction. The graphs refer to the possibility, but the market will always have the last word.
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