Analyst: ETH shows multiple bullish signals
Analyst Illia Otychenko stated that ETH has been showing bullish signals since October. At that time, the weekly Relative Strength Index (RSI) broke through its downward resistance trend line. Otychenko pointed out that this pattern historically correlates with a bullish momentum.
He also mentioned the weekly MACD, which showed a "bullish cross" at the same time, usually marking the start of a new rebound. Otychenko said that when such signal combinations have occurred in the past, they typically lead to an increase in ETH prices by more than 100%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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