Will Ethereum price clear $2,163 resistance or confirm a double top as the 4H MACD turns bullish?
WhatEthereum is testing a double-top resistance zone after two consecutive rejections from its rising parallel channel, putting buyers to the test.
WhyThe 4H MACD crossover has turned bullish, but its marginal nature raises concerns about a potential reversal, as Ethereum struggles to break through the resistance zone.
SignalA bullish MACD crossover on the 4H chart indicates a potential shift in market sentiment, but its reliability is questionable given the double-top formation.
TargetIf Ethereum clears the double-top resistance zone, it could signal a continuation of its upward trend, while a failure to do so may confirm a double top and lead to a reversal.
RiskThe risk of a reversal is high if Ethereum fails to break through the resistance zone, as it may indicate a loss of momentum and a potential decline in price.