Ethereum ($ETH) is showing signs of a powerful reversal in the market, confirmed by hidden bull divergence on the charts. This signal may indicate a growing buyer interest and potential for reaching new highs.
Hidden Bull Divergence in Ethereum
Ethereum is displaying hidden bull divergence, where the price shows higher lows while indicators like RSI or MACD depict lower lows. This pattern is characteristic of signals indicating buyers regaining control. As a result, there is increased trader interest in the potential breakout at the resistance level of $4,811.71.
Momentum Towards Key Resistance Levels
The current situation around $ETH suggests that the price is moving away from recent support levels, which may indicate the continuation of a larger upward trend. The level at $4,811.71 has become a significant point of focus again. A breakout above this level could pave the way for a new price discovery phase.
Forecast for $ETH
If Ethereum maintains its current momentum, we may see a retest of the $4,811.71 level in the short term. A confirmed breakout above that resistance could lead to new highs. However, as with all crypto assets, price action can be volatile, and traders are advised to stay cautious and use risk management strategies. The hidden bull divergence provides a solid technical foundation for Ethereum supporters to remain optimistic.
It is noteworthy that current signals of an increase in $ETH could indicate further developments in the market, and traders should remain vigilant and prepared for potential changes.
