Ethereum's current trading setup indicates a bullish trend, with the cryptocurrency's price breaking above the $1,700 resistance level. The Relative Strength Index (RSI) is currently at 65, suggesting that Ethereum is approaching overbought territory. However, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, indicating a potential buying opportunity.
The 50-day moving average is currently above the 200-day moving average, indicating a golden cross and a long-term bullish trend. Ethereum's price is also trading above the Ichimoku cloud, indicating a strong u