ETH seems to be bullish in a nutshell on the H4 timeframe. Market has formed an inverse head and shoulders and the market has started to move up forming higher highs and higher lows. This needs to be leveled at a strong foothold. The resistance has been breached and is now retesting the support at the price of 1665. From here onwards, the market can continue moving towards the resistance level at the price of 1740.

The descending trendline has broken out for buys and has validated the price action. It shall continue moving up.

There is no retracement level on the pair.

EMA 50 is still bullish and the market may not retest the price action at the support level. 

RSI is at 70. It needs to neutralize itself at the 50 level and the market has to be aligned with the technical factors of the price action.

Technically, ETHEREUM seems bullish

Sep 30 2023