Ethereum Shows Potential for Breakout Amid Hidden Bullish Divergence and Fading Bearish Volume
Main Idea
Ethereum shows potential for a breakout to $7,000–$8,000 due to hidden bullish divergence, declining bearish volume, and consolidation near range highs, indicating underlying strength and reduced selling pressure.
Key Points
1. Ethereum's price pattern shows higher lows while the RSI makes lower lows (hidden bullish divergence), signaling potential continuation of the uptrend.
2. Bearish volume has significantly faded, indicating reduced selling pressure and stabilization near critical support levels.
3. Consolidation near range highs often precedes sharp bullish breakouts, reinforcing Ethereum's upward momentum.
4. Crypto analyst Marcus Corvinus predicts Ethereum could reach $7,000–$8,000, citing its resilience and technical strength compared to Bitcoin.
5. Ethereum's RSI remains in oversold territory but shows signs of underlying strength, supporting the bullish outlook.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Ethereum is exhibiting
Latest News
- BTC Short Liquidations Could Hit $3.735 Billion if Price Surpasses $119,510, Says Mars Finance2025-08-02 04:17:24
- Ripple’s $125 Million Penalty Remains in Escrow Pending SEC Appeal and Regulatory Developments2025-08-02 04:17:09
- Binance Records Massive 63.7M USDT Net Inflow in 24 Hours, Reveals Coinglass Data2025-08-02 04:05:30
- SEC Commissioner Hester Peirce Launches Crypto Engagement Tour to Shape Bitcoin Regulation Framework2025-08-02 03:42:20
- Trump Labels Revised U.S. Job Data a Hoax Amid Rising Tensions; Bitcoin Reacts to Market Uncertainty2025-08-02 03:31:04