Relative Strength Index (RSI)
The RSI reflects a condition close to the overbought zone, indicating strong upward momentum
Short term moving averages
(eg 50 day moving average) Strong buy signals may appear.
Long term moving averages
(eg 200 day moving average) You may be in a bullish position which supports a long-term uptrend.
MACD indicator
The MACD may show a bullish crossover, indicating strong momentum.
Future expectations
It may face resistance at the $3,400 and $3,500 levels. If these levels are successfully breached, the price could head towards $3,600.
Medium to long term
If the upward momentum continues, it could see new highs, especially with continued technical developments such as the upgrade to Proof of Stake (PoS) and the Shanghai upgrade.
Trading recommendations
In the short term, buying Ethereum can be considered if the current resistance level is successfully broken, but with stop-loss orders placed near key support levels.
In the long term, holding Ethereum as part of a long-term portfolio could be considered, especially with the positive outlook for technical developments.
Influencing factors
Technical developments such as the "Shanghai" upgrade.
General market sentiment and institutional investment flow.
The performance of the general market for digital currencies and the position of government regulations.
