$ETH is currently trading at $3,331 (+3.45%), showing strong bullish momentum following Vitalik Buterin’s announcement that Ethereum constitutes over 90% of his portfolio. This transparency has strengthened market confidence, contributing to the recent rally.
Technical Overview
•Immediate Resistance: $3,333, followed by $3,400 and $3,600.
•Support Levels: $3,260 and $3,210.
•RSI (6): 92.86 (Overbought), signaling potential for a short-term pullback.
•EMA Levels: ETH remains above the 7, 14, and 20 EMAs, indicating strong upward momentum.
Despite this rally, RSI suggests ETH is overbought, and a pullback to $3,260–$3,280 could provide better entry points for spot or long trades. Increased trading volume supports the rally, indicating strong buying interest.
Catalysts for $4,000
1.Market Sentiment: Positive response to Buterin’s disclosure.
2.Macro Trends: Bitcoin strength may drive ETH higher.
3.Adoption Updates: Any major Ethereum development news could accelerate the uptrend.
Recommendation: Wait for a pullback to $3,260–$3,280 before entering. Target $3,400, $3,600, and $4,000 if momentum sustains. Set stops below $3,200 to manage risk. A breakout above $3,333 could trigger further bullish action, but patience is key.