72.3% of ETHUSDT Traders Are Long, Is Binance Flashing a Buy Signal?

According to technical analysis, Ethereum is in a position where it could soon surge higher. The uptrend and historical price momentum suggest that there is a strong possibility of ETH soaring by 15% to reach the $2,815 level in the coming days.

However, ETH's recent doji candle at the support level has slightly changed the sentiment from a bearish trend to a bullish trend. Moreover, the relative strength index (RSI) indicates that ETH is currently in an oversold zone, suggesting a possible price reversal.

Here are some key points to consider:

Uptrend: Ethereum's uptrend suggests that the price may surge higher in the coming days.

Historical Price Momentum: The historical price momentum suggests that there is a strong possibility of ETH surging 15% to reach the $2,815 level in the coming days.

Doji Candle: ETH's recent doji candle at the support level has slightly changed the sentiment from a bearish trend to an uptrend.

Relative Strength Index (RSI): The RSI indicates that ETH is currently in an oversold zone, suggesting a possible price reversal. On-Chain Metrics: ETH's on-chain metrics indicate weak market sentiment, which may impact the price in the coming days.

In summary, technical analysis suggests that Ethereum may surge in the coming days, but it is important to keep in mind the on-chain metrics and weak market sentiment.