• ETH value has retested the vital $1,600 help stage for the previous seven days.
• ETH’s current rally might current a golden alternative for merchants to construct short-term lengthy positions.
• On the time of writing, ETH was price round $1,722.95 after a value drop of simply 0.31%.

The worth of Ethereum (ETH), the main altcoin when it comes to market cap, has retested the vital help stage of $1,600 over the previous week. Nevertheless, the bulls had been in a position to defend a key value level, which in the end resulted in ETH value rallying to the closest resistance stage of $1,750 within the days that adopted.

ETH’s current rally may current a possibility to enter short-term lengthy positions, particularly as a number of bullish technical flags might be triggered within the subsequent 24-48 hours. The primary bullish flag for traders and merchants to look at is the day by day RSI line, which on the time of writing was attempting to interrupt above the day by day RSI SMA line.

If these two traces cross throughout the subsequent 48 hours, the worth of ETH may rise to $1,925 subsequent week. The ninth EMA was additionally approaching the twentieth EMA…

The article that ETH may rise to $2,700 if the technicals match was first printed in Coin Version.