Ethereum (ETHUSD) posted solid gains in recent intraday trading, breaching a critical resistance level at $1,800 as bullish momentum gained traction. The upward movement was bolstered by technical indicators, notably the Relative Strength Index (RSI), which signaled a rebound after reaching oversold territory.
The cryptocurrency is currently trading in line with a bullish correction trend on the short-term chart, with the price advancing along a supportive bias line. In addition to breaking past the $1,800 threshold, Ethereum also surpassed the 50-day Exponential Moving Average (EMA50), a key technical barrier that had previously exerted downward pressure.
This dual breakout suggests that Ethereum has escaped a zone of consolidation and negative sentiment, paving the way for further upward movement in the near term. The breach of these resistance levels offers a fresh bullish signal, potentially reinforcing investor confidence and sustaining positive momentum.
Analysts will be watching closely to see if Ethereum can hold above $1,800 and build on this technical breakout in the coming sessions.
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