Ethereum Eyes Potential Breakout Above $2,850 Amid Strengthening Bullish Signals
2025-07-09 06:54:14
Main Idea
Ethereum's recent technical breakout above the EMA50 resistance suggests potential for further bullish momentum, with a possible rise to $4,100 if it surpasses the $2,850 resistance level.
Key Points
1. Ethereum's weekly close above the EMA50 marks a significant technical milestone, ending a nine-week period of resistance between $2,650 and $2,700.
2. Strong support near $2,400 and rising trading volumes during the breakout indicate bullish momentum.
3. The RSI near oversold levels (20.37) and MACD alignment suggest potential for further upward movement.
4. A confirmed breakout above $2,850 could target higher levels, including $4,100, though failure to break this resistance may trigger a pullback to $2,400 or $2,200.
5. Investors are advised to monitor the $2,850 resistance closely and practice risk management due to potential volatility.
Description
Ethereum has surpassed the critical weekly EMA50 resistance, signaling renewed bullish momentum with a potential breakout above $2,850 on the horizon. Technical indicators such as the golden cross and ascending
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