Crypto
ETH Accumulation Zone Paves Way for Upward Break
The price of Ethereum (ETH) is currently sitting in what some consider to be an accumulation zone, according to @CryptoMichNL. This means that there is a possibility for an upward break in the coming period as regulation for digital assets emerges through alternative channels beyond the Clarity Act.
From a technical perspective, ETH is trading at $2456.25 on the 4h chart and is still within a bearish trend structure. The EMA50 at $2463.69 acts as immediate resistance, while the EMA200 at $2333.73 provides long-term support.
The MACD golden cross at -8.67 signals building bullish momentum, but the neutral RSI at 50.62 suggests that the price may test upper Bollinger resistance at $2507.92 before a healthy retracement to the 50-EMA.