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Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday May 16, 2025.
Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday May 16, 2025.
Crypto-currencies
2025-05-16 04:09:09
If we look at the 4-hour chart, the Ethereum cryptocurrency appears to be moving above the WMA (21) which is a dynamic support where the WMA has a slope that going upwards, so that based on this information it gives an indication that in the next few days #ETH has the potential to continue its strengthening where the level of 2735.80 will be tested to be broken and close above that level. If this level is successfully broken, then 3001.68 will be the main target and if the volatility of the strengthening and momentum support then 3344.36 will be the next target but with the appearance of Divergence between the price movement of #ETH and the Stochastic Oscillator indicator please note if there is a correction that breaks and closes below the level of 1751.07 then all the strengthening scenarios that have been described previously will be invalid and automatically canceled by themselves.
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