Ethereum Price Returns Above $3,300, Technical Indicators Bullish
According to CryptoPotato, Ethereum price has recovered above the key $3,300 level after briefly falling below that level. Here are a few technical indicators that may explain why the price of ETH is rising today. Key support level: $3,300; Key resistance level: $4,000. 1. Bulls are back in control: The pullback that began in mid-March appears to be over. After ETH briefly fell to $3,000, buyers quickly returned to push it back above $3,300, which is the current support level. If this bullish momentum continues, the key resistance at $4,000 may soon be tested again. 2. Momentum Shift: Price action turned bullish over the weekend, with ETH trading in the green over the past 24 hours. There is renewed optimism in the market after prices hit higher lows on Saturday. If the bulls are able to achieve higher highs, the uptrend will be confirmed. 3. MACD Bullish Crossover: The daily MACD on the 12-hour time frame has produced a bullish crossover. This is a clear sign that the selling pressure may be over and buyers are eager to return. The daily MACD histogram is also showing higher lows, confirming this trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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