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
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Latest News
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