Ethereum is at 1955 and has the potential to continue moving up towards the upper side and region of the resistance level priced at 2050. The momentum and trend is bullish with the formation of higher highs and higher lows. Therefore, we are anticipating another bullish leg upwards.

The descending trendline is on the verge of breaking out from the trendline. Once pierced and validated by the price action, the confirmation will be strong.

The retracement level of 50% is in confluence with the support level for its continuation upwards.

EMA 50 is still bearish. Another mark up will pierce the EMA towards the bullish region for the continuation upwards, aligned with other technical factors.

RSI is at 38. It needs to dwell above the 50 level region and then retest the level for the continuation towards the over bought region.

Ethereum at 1955

Nov 19 2023