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| Ethereum |
Can ETH Sustain Its Momentum Without Volume Confirmation?
Ethereum (ETH) has surged by 3.14%, reaching $1,850 and igniting optimism among traders. This move places ETH just above its 50-day Exponential Moving Average (EMA), which recently turned into a support level. While this technical shift appears bullish, the market remains cautious.
ETH faces strong resistance at the 100-day EMA at $2,148 and the 200-day EMA at $2,469. A confirmed breakout above these zones could trigger a medium-term bullish reversal. However, until these levels are decisively cleared, the uptrend remains uncertain.
Despite the price increase, Ethereum’s trading volume remains notably low. Historically, meaningful price rallies in ETH have coincided with significant increases in both volume and volatility. The absence of these indicators raises concerns about the sustainability of the current move.
The Relative Strength Index (RSI) currently reads 59. This suggests that ETH has room to rise before becoming overbought. However, without volume support, RSI alone cannot confirm the strength of the rally. Some traders see quiet accumulation, but others urge caution.
For ETH to establish a solid bullish narrative, it must break above the 100 EMA with rising volume and volatility. Until that happens, traders should view this bounce as a cautious rebound rather than a trend reversal. The $2,150 level remains the key battleground for Ethereum’s short-term direction.