Famous analyst Eric Krown recently Ethereum Evaluating the impressive performance of , he emphasized that rising above the 2500 dollar level was an important milestone. Known for his in-depth technical analysis, Krown shared his positive views on Ethereum’s ongoing rally. He particularly emphasized its strength on higher time frames.
Ethereum’s Rise and Technical Analysis
Krown emphasized ETH’s remarkable performance, especially on daily and weekly charts. He noted ETH’s tendency to print consecutive green candles, reflecting its strong bullish momentum. He stated that the last run started on February 5th and he observed a pattern of three green candles followed by a red candle and now potentially three green candles again. This situation can be considered as an indicator of short-term flexibility and points to the possibility of small retreats.
Key Technical Indicators
The analyst mentioned several important technical indicators that support ETH’s uptrend. First, he highlighted the bullish crossover between the 21-day and 200-day moving averages as a sign of long-term strength. Additionally, the latent bullish divergence between the November and January lows suggests that the underlying bullish momentum is strengthening.
On the daily chart, Ethereum has broken through the highs of its 50% historical return range, indicating further potential upside. Despite short-term fluctuations, the analyst believes that Ethereum’s momentum continues, with low volatility readings and bullish signals on both the 5-day and weekly charts.
Long Term Perspective
Krown highlighted Ethereum’s strong position specifically on the monthly chart and pointed out the importance of regaining the median of the HPDR bands. He stated that this situation could offer more upside potential. It is stated that if Ethereum maintains its current levels throughout February, Krown expects a move towards the low 3000s.
Koinfinans.com As we reported, Eric Krown remains bullish on Ethereum’s prospects. In addition, it predicts that the upward momentum will continue in the near and long term. There may be short-term pullbacks, but Krown sees them as opportunities for further gains, especially around the $2,500 level.
