Ethereum (ETH) shows signs of strength and caution after a net rally of 49% in last week. Although its market capitalization has returned above $ 300 billion and EMA indicators remain optimistic, momentum indicators are starting to cool.
The ADX increased from 61 to 47.99, and RSI increased from 86 to 63, which suggests that the upward trend could lose steam. However, buyers are still active, and if ETH breaks above the keys, the next leg could exceed $ 3,000.
ETH DMI Signals Cooling Rally and increase in down pressure
Ethereum’s DMI indicator shows that its ADX has gone from 61 to 47.99, signaling a weakened trend force.
The ADX (average directional index) measures the intensity of a trend, with values greater than 25 indicating a trend strongly and greater than 40 suggesting a very strong momentum.
An ADX declining, even if it is still high, may indicate that the current trend loses steam, despite analysts who recently stressed that Ethereum could exceed bitcoin.
The + DI line fell strongly from 47.96 to 27.2, showing that the bullish momentum has cooled considerably.
Meanwhile, the -Di line increased from 3.39 to 13.97, which suggests that the down pressure begins to increase.
While the trend always promotes the bulls, the gap between + di and -Di shrinks, and if this continues, Ethereum could face a short -term decline or enter a consolidation phase. However, in the last hours + DI has increased and -Di broke down, suggesting that ETH buyers are trying to maintain their control.
Ethereum RSI cools off from the Surachat area but remains optimistic
The Ethereum RSI fell to 63 compared to a summit of 86 three days ago, after having held above the basic threshold of 70 for three consecutive days.
Interestingly, despite the recent drop, RSI rebounded at 54 years ago, suggesting a renewal of short -term purchase interest.
RSI (relative resistance index) is a momentum indicator which varies from 0 to 100. Readings greater than 70 generally indicate the surachat conditions and the potential of a decline, while the readings less than 30 suggest occasions of occurrence and a possible rebound. The values between 50 and 70 generally indicate a moderate bullish impulse.
At 63, RSI D’Ethereum shows that the asset has cooled by recent overabundance levels but still maintains an underlying bullish force. This could mean that the market is reset after a strong rally, allowing room for another lightness if the purchase continues.
Ethereum Eyes $ 3,000 after 43% weekly overvoltage, but the resistance of the main
Ethereum Price has increased by 43.5% in the last seven days, with its market capitalization up above $ 300 billion. Its EMA lines continue to show a strong bullish structure, strengthening the current upward trend.
However, ETH recently tested the resistance of $ 2,617 and failed to break through.
A successful breakthrough above this level could open the way to $ 2,855 and even $ 3,000 for the first time since early February, with a possible extension at $ 3,442 if the momentum accelerates.
Learning, the support of $ 2,320 is essential. If Eth tests and loses this level, the price could slide at $ 1,938. A stronger lower movement could push it further at $ 1,736.
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