Can ETH continue its operation with the approaching levels of the main resistance?

ETHEREUM has seen a strong upward rally over the past two weeks, from $ 1500 to more than 2600 dollars. However, the signs of fatigue began on the surface. While the higher time frames remain optimistic at the present time, caution in the short term is justified.

Technical analysis

By shayanmarkets

Daily chart

ETH has reached a technical ceiling under the resistance of $ 2900, which is closely in line with the moving average for 200 days. This area previously worked as a major collapse in February, and it is now a supply area. The Relative Power Index also recently entered the peak area, indicating that the momentum fades as the price approaches this resistance.

Rejection from here can withdraw towards the support area of ​​$ 2200 and MA 100 days located near the $ 2100 sign. The confirmed collapse of more than 2900 dollars would turn the bias into ascending, with a potential continuing towards the decisive area of ​​$ 4,000.

The graph for 4 hours

Decrease in the time frame for 4 hours, Ethereum shows signs of momentum. After the explosive step exceeding $ 2100, the price was unified in a narrow range near the area between 2,500 and 2,600 dollars.

The clear and clear difference in the business management conference is now confirmed, as prices make the highest levels of prices while RSI at the highest low levels. This usually indicates a possible correction in the future. If ETH loses the support of $ 2,450, the decline will become about $ 2,200 and up to $ 2050. On the other hand, the restoration of $ 2600 with a strong volume can nullify the homosexual signals and open the path for operation in the $ 3,000 region.

Feelings Analysis

The last gathering led to a sharp wave of short liquidation, which helped fuel the increase in aggressive prices. As shown in the short liquidation scheme, the largest references occurred near 2,400 – 2600 dollars, indicating that a large part of the sellers were forced to leave the market. This usually causes short -term cooling, as the “fuel” is exhausted to the gathering.

The liquidation scheme shows a clear rise in forced closure over the past week, as it is in line with Ethereum. These nails often refer to local peaks, as removing excessive short exposure removes the driver of momentum. With the filtering now, the price may be struggled to raise a higher level without entering the new demand to the market. This context strengthens the idea that ETH can integrate or correct before any meaningful continuity.