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Ethereum Technical Analysis: Sideways Movement as ETH Eyes Break Above $2,500

February 12, 2024

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Shortly after 7:00 p.m. EDT on Sunday, ETH surged to a peak of $2,541 each, aligning with BTC’s upward trend. The next day, Monday, ether’s indicators presented a mixed outlook, with the relative strength index (RSI) showing a neutral stance, while both the Stochastic oscillator and commodity channel index (CCI) hinted at a possible downturn. Yet, the moving average convergence/divergence (MACD) levels exhibited positive momentum, signaling inherent strength.

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