ETH Weekend Pump Predicted to be Followed by Standard Correction

Ethereum (ETH) is poised for a short-term price increase over the weekend, followed by a standard correction on Monday, according to @CryptoMichNL. This prediction is based on routine ETH price patterns and historical data.

The current price of $2411.07 holds a bullish structure above the EMA50 support at $2142.82 and the EMA200 at $1957.76. However, the RSI(14) indicator is at 71.97, indicating overbought conditions, while the MACD death cross suggests exhaustion at the upper resistance of $2607.91.

This technical analysis indicates that ETH may experience a retracement to the 50-EMA before continuing its upward trend in the broader crypto market volatility.