ETH The Relative Strength Index (RSI) is mocked with a buy signal, pending execution when the RSI crosses above the signal line (yellow band). The MACD indicator is also above its signal line (orange band), with the histogram bars flashing green in positive territory.

A greater buyer impulse could cause the price of Ethereum to break the $3,000 zone, surpassing the maximum of this range with a possible extension to the intended target, $3,200, 6% above current levels.

In a very bullish case, the price of Ethereum could extend a move to the $3,500 milestone, last tested on April 5, 2022.

On the opposite side, a rejection of the upper limit of the channel could see the price of ETH plummet, falling below the immediate support by $2,905.

A prolonged drop could see the price of Ethereum slide below the middle line of the channel, with the possibility of retesting the midline of the market range, 50% Fibonacci retracement at $2,572. A rupture and closure below this level would invalidate the bullish thesis.#ETHUSDT #Ethereum2024 #Writen2Earn #criptolover