[Ethereum Technical Analysis: Ethereum rebounds bullishly amid consolidation]
On the 1-hour ETH/USD chart, key support is located at $3,411 and resistance is located at $3,565. Ethereum price fluctuates within these bounds, with the recent trend showing a recovery, suggesting entry in the $3,480 to $3,500 range, with a rebound to $3,565 expected.
On the 4-hour chart, Ethereum has support at $3,366 and resistance at $3,565. High volume means these levels are key. A price recovery hints at a consolidation phase.
On the daily chart, Ethereum has support at $2,803 with a high at $3,628. The significant volume following the decline underscores the importance of these levels, presenting a bullish outlook in the short to medium term.
Oscillators show mixed sentiment. The RSI is 58.8, indicating neutral; the Stochastic is 94.6, indicating bearish; the CCI is 96.6 and the ADX is 22.7, both neutral; the Momentum Oscillator is 363.9, indicating bearish; and the MACD is 43.2, indicating bullish. These indicators reflect market uncertainty and require cautious optimism.
The moving averages show major bullish sentiment. The 10-day EMA and SMA are at $3,421 and $3,422 respectively, showing positive action. This bullish trend extends to the medium-term averages (20-50), with the EMA and SMA converging to indicate buying opportunities. The bullish outlook is also supported by the long-term moving averages (100-day and 200-day), which are trading significantly below current prices, reinforcing the overall positive market sentiment.
