Crypto
ETH Buy the Dip Zone Approaches, Traders Eye Retracement
The price of ETH is currently hovering within its 4-hour Bollinger bands, with resistance at $2513.76 and support at $2408.02. According to Michaël van de Poppe, this area represents an ideal 'buy the dip' zone.
ETH is holding above its EMA50 at $2333.56 and EMA200 at $2061.61, indicating a bullish trend structure. However, the MACD death cross at 33.48 suggests that momentum is fading, while the RSI remains neutral at 55.46.
Traders are watching for a retracement to the 50-EMA before any potential continuation, which could lead to fresh price prediction scenarios in the ongoing crypto market volatility.