Summary
• Price broke key resistance at 10883.0 with a bullish engulfing pattern.
• RSI climbed from 50 to near 65, signaling growing momentum.
• Volatility expanded sharply, with Bollinger Bands widening post-10876.0.
• 24-hour turnover surged to 376,168.8 PLN on increasing volume of 8.1895 ETH.
• 50-period MA on 5-min chart crossed bullish as price surged past 10876.0.
Ethereum/Zloty (ETHPLN) opened at 10708.0 (12:00 ET–1), reached a high of 10939.0, and closed at 10917.0 by 12:00 ET. The 24-hour volume totaled 8.1895 ETH, with a notional turnover of 376,168.8 PLN.
Structure & Formations
The price action revealed a strong bullish breakout at 10883.0, confirmed by an engulfing candle.
A key support at 10747.0 was tested and held, while resistance at 10902.0 was cleared. A potential consolidation level appears to be forming around 10917.0, which may act as short-term resistance.
Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart showed a bullish crossover as price surged past 10876.0. On the daily chart, the 50-period MA continues to trend upward, suggesting the broader uptrend remains intact.
MACD & RSI
MACD turned positive and crossed into bullish territory, aligning with rising prices. RSI climbed from around 50 early in the session to near 65, indicating growing upward momentum. A reversal signal may emerge if RSI exceeds 70 or drops below 50 in the next 24 hours.
Bollinger Bands
Bollinger Bands expanded after the breakout at 10876.0, reflecting increased volatility. Price closed near the upper band at 10917.0, suggesting a continuation of the upward trend may be in play.
Volume & Turnover
Volume and turnover saw a significant increase as price broke above 10883.0, confirming the bullish move. A divergence in volume during pullbacks could indicate weakening momentum. Turnover remained strong near key levels, supporting the integrity of the breakout.
Fibonacci Retracements
Fibonacci levels on the recent 5-minute swing from 10686.0 to 10939.0 indicate a potential pullback target at 10876.0 (38.2%) and 10815.0 (61.8%). On the daily chart, 10747.0 and 10815.0 remain key psychological levels.
Ethereum/Zloty may continue upward if the current trend holds, with potential for a test of 10954.0. However, a pullback toward 10876.0 should not be ruled out, and traders should remain cautious of divergence in momentum and volume.
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