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ETH is trading around $2,284, having consolidated above the 200 EMA and the 21 SMA, forming a symmetrical triangle pattern that could support its bullish cycle. Ethereum is expected to continue rising in the coming days, potentially reaching $2,370.
Ethereum was at risk of a sharp decline but managed to consolidate above the 200 EMA, allowing it to recover some of its losses. It is now likely to continue rising in the coming days to reach the 7/8 Murray level around $2,343. Ultimately, ETH is expected to reach the upper band of the downtrend channel around $2,370.
If bearish momentum prevails and Ethereum consolidates below the 200 EMA around $2,250, we could expect a sharp drop toward the 6/8 Murray level around $2,187.
Given that the Eagle indicator is giving a positive signal and as long as the ETH price consolidates above $2,250, any pullback could be seen as a buying opportunity in the coming days.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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