Ethereum Eyes Breakout after the formation of the cup and processing: Can you reach $ 3,255?

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Ethereum is merges above 200 days of EMA at $ 2,457 with the formation of the upper reflection pattern.
The formation of the circular bottom extends to February to May when resisting $ 2712.
The open interest increases by 2.52 % to 34.65 billion dollars despite the relative strength indicator that shows the momentum of weakness.

The ethereum is developing a bullish style unfortunately and the cup on the daily chart while maintaining support higher than the Si -SIS medium for 200 days at $ 2,457. Currently trading about $ 2,509, ETH continues to integrate into a specific range while traders monitor potential penetration signals over the main resistance levels.

The formation of the cup has faded between February and May, which created a reflection pattern around the bottom with the development of the neck line at the level of 61.80 % Vibonacci of $ 2,712. This technical preparation indicates that Ethereum can prepare for an extended crowd if the bulls can push the price movement up from the upper limits of the pattern.

With the support of the upscale issue, ETHEREUM achieved a golden cross between EMA lines for 50 days and 100 days, indicating a possible reflection of the short term. This intersection usually attracts momentum and provides additional technical confirmation of the developing style.

The difference of Rsi Ethereum creates fears in the short term

Despite the formation of the bullish scheme, Etherum faces some technical opposite winds. The RSI index continues to decrease while PRICE maintains a higher decrease, creating a hidden declining difference indicating poor momentum below the surface.

The pattern of difference is often preceded by this short -term decline or monotheism, even within the wider upholstery. If the difference is operated, ETH can test the support at the Fibonacci level by about $ 2,386, followed by a level of 38.20 % at $ 2098.

However, if the wider market conditions improved and the purchase of pressure, the bullish collapse of the cup pattern and the standing remains possible. Such a 78.60 % Fibonacci level will target at 3,255 dollars, providing about 30 % of the current levels.

More optimistic scenarios seeing a certain outbreak extending towards the Fibonacci level by 100 % at $ 4.108, although this will require continuous momentum and a wider coding market.

The financing rate increased to 0.0046 %, indicating that traders are ready to pay simple installments to maintain long jobs. This high financing rate, although it is not extreme, indicates more upward than the dumping locations between permanent contract dealers.