Ethereum (ETH) price is up over 3% in the last 24 hours, showing signs of recovery as the year ends. Unlike Solana and Bitcoin, which reached new all-time highs in 2024, ETH fell short of achieving this milestone.
Key indicators like RSI and DMI suggest that bullish momentum is building, with ETH nearing a critical resistance at $3,523. Whether the altcoin can break higher or retest lower support levels will define its short-term price trajectory.
ETH RSI Is Going Up
Ethereum Relative Strength Index (RSI) is currently at 56.2, reflecting a steady recovery after dropping below 20 on December 20. This rebound indicates that buying pressure has gradually returned, lifting ETH out of oversold conditions and into a neutral-to-slightly-bullish zone.
An RSI of 56.2 suggests that momentum is leaning more toward the positive side, signaling the possibility of a mild upward movement in the ETH price as it stabilizes.
The RSI is a momentum indicator that measures the speed and strength of price movements on a scale from 0 to 100. Values above 70 indicate overbought conditions, often signaling a potential price pullback, while values below 30 suggest oversold conditions, hinting at a possible recovery.
With Ethereum RSI at 56.2, it remains in a neutral zone but is close to entering bullish territory. In the short term, this could mean ETH has room for moderate gains, although a lack of strong momentum might limit significant upward movement unless buying pressure intensifies further.
Ethereum DMI Hints at Bullish Shift
ETH DMI chart indicates
Go to Source to See Full Article
Author: Tiago Amaral
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
