On the daily chart, #Ethereum has exhibited a strong bullish trend from the beginning of May, with the price rising from around $2,813 at the start of the month, to a recent high of $3,953. The price action indicates consolidation around the $3,900 level, suggesting potential support. Significant volume spikes during major price moves indicate strong market participation. A break and hold above $3,953 with strong volume could signal the continuation of the bullish trend. However, a drop below the $3,600 level on the daily chart with high volume might indicate a deeper correction and an exit point.

Oscillator analysis provides mixed signals: the relative strength index (RSI) at 72.2 and the Stochastic at 89.0 suggest a neutral stance, while the commodity channel index (CCI) at 112.2 indicates a bearish signal. Conversely, the awesome oscillator at 569.8 and the moving average convergence divergence (MACD) level at 198.1 both suggest a bullish signal, highlighting the ongoing momentum.

Moving averages (MAs) across various timeframes further reinforce the bullish outlook. All major exponential and simple moving averages (EMA & SMA), including the 10, 20, 30, 50, 100, and 200 periods, indicate bullish signals. This comprehensive alignment of moving averages suggests a strong underlying bullish trend, providing additional confidence in the upward trajectory of ethereum’s price.