Ethereum Up 6%, But Bearish Pressure is Still Strong | Airdrop Alert Pro

Ethereum (ETH) has grown nearly 6% in the past 24 hours, and its price has recovered by $2,200 after a brief decline of nearly $2,000. This recovery comes as investors expect the upcoming White House crypto summit to stop marketing developments.

Key indicators, e.g. RSI DMI recommends that Ethereum is at a critical point, with bearish momentum weakening, but not completely disappearing. If bullish pressure continues to increase, ETH may exceed key resistance levels, possibly targeting $3,000 in the next few weeks.

Ethereum RSI is neutral, but starting yesterday

Ethereum’s Relative Strength Index (RSI) Currently, it is 48.9, reflecting the neutral position after significant fluctuations in recent days.

Two days ago, the RSI reached 67.6, approaching overbought territory, and then dropped to 36.1 yesterday, indicating a short-term sales pressure.

The current RSI level is close to 50 Ethereum is neither a strong deal nor an oversellpositioning it at the next step can define the short-term direction.

RSI or relative strength index is a momentum indicator that measures the speed and amplitude of price changes to determine whether assets are too much or oversold.

Typically, an RSI value above 70 indicates too many conditions, indicating a potential callback, while a condition with too many values ​​below 30 signals usually leads to a rebound. Since ETH RSI is now 48.9, this indicates that the market is more balanced, Neither the buyer nor the seller is obviously huge.

If RSI starts to climb again, it could indicate a new bullish momentum that pushes Ethereum to a higher level. However, if it drops further, it may mark an increase in bearish pressure on the upper level, resulting in a retest of potentially lower support areas.

Ethereum DMI shows sellers are still under control, but the gap is narrowing

Ethereum’s Directed Movement Index (DMI) shows that ADX is currently at 31.3, maintaining 30 levels over the past two days. ADX above 25 usually indicates a strong trend, and the metric remains stable above this threshold, thus confirming that Ethereum is in a well-defined trend.

Meanwhile, +di increased from 11.8 yesterday to 18.6, while -DI dropped from 33 to 26.6. This shift indicates that bearish momentum is weakening, while bullish pressure is slowly increasing.

However, since -di is still higher than +di, Ethereum is still on a downward trenddespite signs of potential stability or trend reversal.

The ADX or average direction index can measure the intensity of the trend without indicating its direction. Reading above 25 indicates a strong trend, while values ​​below 20 indicate weak or indecisive market conditions.

With ETH’s ADX of 31.3, the current downtrend is still strong, but the narrow gap between +di and -di indicates that sales pressure is losing intensity. If +di continues to rise and surpass -di, Ethereum may begin transfer Going towards a more bullish structure.

However, if DI remains dominant and ADX remains higher, the downward trend may continue, thus further declining before any meaningful reversal occurs.

Will Ethereum interrupt more than $3,000 in March?

Ethereum has undergone sharp corrections recentlybriefly test the level of about $2,000 before the rebound. If the current downward trend reverses,

ETH may push towards a resistance of $2,550, breaking beyond this level, which could lead to a rally towards $2,855.

A strong uptrend of more than a month could even make Ethereum surpass $3,000 for the first time, possibly reaching $3,442 if Bullish Momentum continues.

The advantages of this recovery will depend on the upcoming events, e.g. White House Crypto Summit, Some Users Worry about Ethereum’s Indirect Say.

However, if bearish momentum recovers, Ethereum still has the risk of further disadvantages. A new sell-off could restore ETH to a support level of $2,077 if the area fails to hold, Ethereum prices may drop Again below $2,000.