Ethereum ($ETH) has recorded a hidden bullish divergence that may indicate the start of a new price rally.
What is Hidden Bullish Divergence?
Hidden bullish divergence is a technical pattern that indicates the continuation of an existing uptrend. It occurs when price action shows higher lows while indicators like RSI display lower lows, suggesting that bulls remain in control, even when the broader market appears uncertain.
Current Situation Analysis of ETH
Analysts have noted this divergence forming on 4-hour and daily charts, supported by strong buying volume and positive momentum indicators. These factors reinforce the idea that this is more than just a short-term signal; it may be a signal of renewed strength in Ethereum’s trend. This may indicate potential positions for traders looking to enter the asset.
Expectations for Ethereum's Future Price Movement
If the pattern unfolds, Ethereum could make significant moves towards recent resistance levels, possibly aiming to break above $4,000 if momentum sustains. However, as always, traders should closely monitor volume and market conditions.
The confirmation of the hidden bullish divergence in Ethereum suggests a justified hope for continued growth. However, traders should remain vigilant and track market changes closely.
