Ethereum Tests Key Support Line Again
Ethereum retests a crucial multi-year support line, signaling a potential bullish reversal ahead.
- Ethereum revisits a historic support-resistance line
- MACD shows potential for strong bullish momentum
- Bulls must hold the line to prevent further downside
Ethereum (ETH) is back at a crucial technical level, and all eyes are on how price action unfolds in the coming days. The crypto market is known for volatility, but there are times when price patterns offer valuable clues—and this is one of them. ETH is currently retesting a support line that has held significance for years, once acting as a strong resistance during the bear market.
Now, this same line has flipped into support, and Ethereum is testing it for the second time—a moment that could define the short-to-mid term trend.
Multi-Year Resistance Flips to Support
This support line isn’t just any trendline. It’s the multi-year resistance that had capped Ethereum’s price throughout several previous rallies. The fact that ETH has broken above it and is now retesting it adds to its importance.
Support and resistance flip levels are often where market psychology plays out. When price revisits such a level, it becomes a decision zone—will the bulls defend it, or will the bears push ETH back below? A successful bounce from here could set the stage for a strong upward move.
MACD Signals a Bullish Setup Ahead
The MACD (Moving Average Convergence Divergence), a widely-used momentum indicator, is currently sitting under the zero line, which traditionally signals weakness. However, this also opens the door for a powerful bullish crossover.
Historically, when the MACD crosses bullish below the zero line, it often leads to a strong price rally. Traders watching for momentum shifts should keep a close eye on this signal. If bulls manage to defend the support and MACD flips, it could mark the beginning of a strong upward trend for ETH.
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