Ethereum Price Shows Signs of Strong Rebound
- Rebound Signal: Ethereum (ETH) price has rebounded from last week's low of $1,738 to $2,080, forming a giant hammer candle and confirming an inverted head-and-shoulders pattern, indicating a potential strong rebound despite being well below its nearly $5,000 all-time high.
- Surge in Staking Demand: Over 4.06 million ETH (approximately $10 billion) are currently queued for staking, reflecting sustained demand from investors, with only 31,915 ETH wanting to exit, suggesting that most holders are not panic-selling.
- Increased Network Activity: Ethereum's active addresses surged by 38% in the last 30 days to over 15 million, while transactions rose by 37% to over 70 million, indicating the success of the Fusaka upgrade and boosting network utilization.
- Strong Market Share: Ethereum commands over 70% market share in the real-world asset tokenization sector, underscoring its dominant position in the crypto industry; despite price declines, its fundamentals remain robust, likely attracting more investor interest.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH) As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 624.398 | 1186.099 | 1705.248 | 2266.949 | 2786.098 | 3347.799 | 3866.948 |
| Fibonacci | 1186.099 | 1598.984 | 1854.064 | 2266.949 | 2679.834 | 2934.914 | 3347.799 |
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