ETH - Will it hold?

Ethereum Technical Analysis:
Trade setup: Breakout from Symmetrical Triangle and above 3K (Higher High), signaled trend reversal. Reached stiff resistance at 3.5K (also 200-day MA) and momentum is fading with negative divergences appearing on the 4-hour chart, (MACD Histogram bars declining). Wait for price to 1) break above 3.5K, with upside to 4K, or 2) pullback near 3K support for swing entry. (set a price alert).

Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.

Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.

OBV (On-Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium

Support and Resistance: Nearest Support Zone is $3,000 (previous resistance), then $2,300. The nearest Resistance Zone is $3,500, then $4,000.
Chart PatternsDivergenceETHEthereum (Cryptocurrency)Technical Indicatorstechnical_analysisTechnical AnalysisTrend Analysis

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