A Different Technical Picture
Ethereum has returned to the same major support/resistance zone that rejected price earlier this year, but this time the structure looks healthier. Unlike the previous test, there is no bearish RSI divergence and no clear double top, reducing the evidence of exhaustion.
Resistance Still in Play
Price has pushed into the flattening 100/50-day EMAs, which remain bearishly crossed and continue to act as overhead resistance. Bulls need a decisive break above the recent $1,946 high to confirm that momentum is building.
Momentum Favours the Bulls</b>
RSI has reclaimed and held above 50, signalling improving bullish momentum on the daily timeframe. Meanwhile, the absence of bearish divergence suggests buyers may still have room to extend the current advance.
Key Support to Hold
The former resistance around $1,830 is now the level bulls need to defend. Holding above it would strengthen the case that this breakout is genuine, while a loss of that level would increase the risk of another move back towards $1,713.
In Summary
Ethereum is testing one of its most important technical areas of the year. The lack of bearish divergence and improving momentum suggest this rally has stronger foundations than the previous attempt, but the flattening 100/50-day EMAs and nearby resistance mean bulls still have work to do before the broader trend can be considered bullish.