Key results:

• Ethereum creates a bull flag on a daily table, with a potential breakthrough above $ 3 $ 300.

• If ETH recovers the 2-week Gauss Channel, a 90%rally may occur.

The price of ether (ETH) consolidates from 2400 to 2,750 USD on a daily chart, creating a pattern of bulls flag with monuments in a resistance zone from 3000 to USD 3,100. The bull’s flag is a pattern of continuation, which occurs after a edged rally (black flagon) to 2,730 USD from $ 1,900, with the current range creates a flag.

Pulty breakthrough above 2600 USD can be directed to USD 3,600, which is calculated by adding a flagship height to a breakthrough point, but the closest key area of ​​interest remains between the range of resistance at USD 3100–3000 USD.

The 200-day interpretation average (EMA) supports a lower range. The relative strength indicator (RSI), although still near the region of purchase, has cooled down significantly in the last few days.

The ETH breakthrough with the growing RSI and the volume can confirm the stubborn movement, and the decrease below 2,400 USD risks the cancellation of the formula.

Can Ether recover the Gauss Central Canal line?

On May 20, the ether showed a significant change in trends when he tried to recover the middle line of the Gauss two -week channel, a technical indicator used to identify price trends. Gauss distribution channel or normal make price movements in the energetic range, adapting to market variability.

Historically, when ETH crosses this middle line, significant rallies often follow. In 2023, ETH increased by 93% to $ 4000 after a similar crossover, while in 2020 it increased rapidly by 1,820%, causing a massive Altcoin rally.

And vice versa, a similar configuration in August 2022 led to annulment during market correction, emphasizing the risk of relying only on this indicator.

Similarly cryptographic trader Merlin noticed The golden intersection between the 50-day SMA and the 200-day SMA (basic moving average), which can further strengthen the nearest ETH breakthrough. It should be noted that the golden cross is on a 12-hour chart, which is less reliable than a one-day chart.

Related: Bitcoin fractal analysis forecasts modern highest all time above USD 110,000 by the end of the week

Traders are cautious about the possible “range of range”

Popular XO cryptographic dealer excellent that Ethereum consolidates under a “decent” level of resistance below 2800 USD. The trader expects correction if ETH cannot interrupt over USD 2800 in the next few days. The analyst said

“I will bend towards the price to throw the environment related to the range for at least a few weeks potentially longer and once again I became buyer.”

Bull’s counterattacks can also be observed, and ETH prices oscillate at Fibonacci. Cointelegraph announced that Ether has recently tested FIB 0.5 to 0.618, which can cause a compact -term ETH correction.

In this scenario, the direct area of ​​support remains about USD 2150 and USD 1900, probably slowing the stubborn shoot for a longer period.

Related: Why Ethereum (ETH) is the price today?

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.