Ethereum has started its bullish journey forming higher highs and higher lows. The market has changed the trend to the bullish side and has the potential to continue moving up. The dip seemed inevident but the market structure changed its course and started to take its bullish toll. The support level is at 1525 which will need to be uplifted.

There is no trendline indication currently on the prices.

There is no retracement indication in this setup as the market is already in a ranging market.

EMA 50 has turned bullish as well. At the support level, we might see a retest of the support level where the market may confluence with other technical parameters.

RSI is at 52. Nearing about the over bought region. Once the market falls towards the neutralized level of 50, market has the potential to align with technical parameters and continue moving up.

Another bullish attempt on ETHEREUM

Jan 28 2023