ETH found support on the $4,500 level and if this continues to hold price should grind upwards up until $5k where we face the first real test of this rally.
There are some signs of weakness on MACD histogram and RSI which have made lower highs -> bearish divergence.
But it is too early to be concerned. We need to break below the trendline on the chart to get worried.
For now the most likely scenario is to have continuation until the next resistance level. Bias remains bullish on all timeframes.
Long term, ETH will rip towards $10k.
There are some signs of weakness on MACD histogram and RSI which have made lower highs -> bearish divergence.
But it is too early to be concerned. We need to break below the trendline on the chart to get worried.
For now the most likely scenario is to have continuation until the next resistance level. Bias remains bullish on all timeframes.
Long term, ETH will rip towards $10k.
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