For Ethereum ($ETH ) this week (starting September 29, 2024), the general outlook points to a cautious upward movement with potential pullbacks. Key support levels are around $2,573.66 and $2,647.63, while resistance stands near $2,673.69, with stronger barriers at $2,738 and $2,811.72 in the case of a bullish breakout.
In terms of trend analysis, ETH is currently experiencing a neutral to slightly bullish momentum. However, some analysts note a rising wedge formation on shorter timeframes, indicating potential for a downside breakout if volume decreases further. The MACD indicator remains bullish on the daily chart, but other oscillators are showing mixed signals.
Given the resistance and support zones, a good buying opportunity could be around the $2,573 to $2,647 range, particularly if the price stabilizes or dips near those levels. However, it is important to stay cautious due to potential volatility and watch for price action around the resistance points.
Consider monitoring the broader market sentiment and ETH's price movement closely to adjust your strategy.
