Ethereum Price Consolidates Near $2,450 as Bull Flag Takes Shape
Ethereum's price has been holding steady at around $2,450 after a strong weekly rally that saw it reach as high as $2,546. The sharp move was halted below $2,550, but analysts are now looking for a potential bull flag to form on the 4-hour chart.
The daily Relative Strength Index (RSI) has reached 75.59, indicating strong momentum, but also showing that Ethereum's price may be overextended and due for a correction. The RSI moving average was lower at 68.56, suggesting that some of this momentum is being absorbed by the market.
Despite the overbought conditions, the Supertrend indicator remains positive, placing trend support at around $2,158. Ethereum's price has been trading above this level for some time now, leaving room for a correction without fully reversing the daily bullish structure.