CoinVoice has recently learned that the price of Ethereum has increased by 7.5% in the past week, with the bullish technical indicator known as the Golden Cross and the current RSI (Relative Strength Index) of 63.6 indicating that further increases may be possible. However, the market is at a critical moment, and support and resistance levels will determine its future trend.
After a brief decline in early January, whale activity has rebounded. The number of wallets holding at least 1,000 ETH has increased to 5,615, indicating that confidence among large investors is returning. If this trend continues, this accumulation could further drive prices up. The RSI has recently fallen from overbought levels, reflecting a neutral to bullish market sentiment. If the RSI rises towards 70, it may reignite upward momentum; but if it falls below 50, it could indicate weakening market strength.
The Ethereum Golden Cross formed earlier this month supports a bullish outlook, with the next key resistance level at $3,827. If this level is breached, it could pave the way for a move towards $4,000; however, to avoid a downturn, maintaining the support level at $3,543 will be crucial. [Original link]
