Ethereum is making headlines again as bullish momentum begins to take shape across higher timeframes. After a period of price weakness, the cryptocurrency has returned to a critical weekly range.
Reclaiming the Range
Ethereum ($ETH) has made a significant technical move by reclaiming its position within the established weekly range after previously deviating below the range lows. This reintegration is seen as a bullish signal, suggesting potential upside targets close to $4,100.
MACD Confirmation
The MACD indicator has recently shown a bullish crossover, often seen as a precursor to upward momentum. This signifies a strong case for a rally towards the upper end of the range.
Calm Before the Surge?
As of the latest data, Ethereum is trading at $2,518.24 with a minimal daily decline of 0.08%. The 24-hour trade volume has dropped significantly by over 21%, down to $12.7 billion, indicating a considerable decrease in market activity.
The current situation with Ethereum suggests a potential recovery toward the $4,100 price level. Despite low trading volumes, technical indicators point to a bullish trend revival.
