ETHUSD traded around 2,849.49 this week, successfully breaking above the mid-range resistance of 2,526.52. This bullish weekly candle shows strong momentum, pushing the price back into the Ichimoku cloud and suggesting potential trend reversal toward a medium-term bullish bias.

The price has closed decisively above the Tenkan-sen and Kijun-sen lines, reentering the Ichimoku cloud. This signals a shift in market sentiment, especially with the bullish candle supported by increasing Bull Power at 501.47. The Chikou Span is still below the price action, so confirmation of a true bullish trend remains pending.

The price has broken through the 20-week SMA from below, further strengthening the bullish case. The next key resistance lies at 3,294.20, coinciding with the top of the Ichimoku cloud and a previous reversal point.

Market Observation & Strategy Advice
1. Resistance Levels: Next major resistance is located at 3,294.20, a critical structure from February highs.
2. Support Zones: Immediate support now flips to 2,526.52, followed by stronger base support at 1,570.29.
3. Ichimoku Cloud Context: Price inside the cloud shows transitional market phase — potential for trend reversal, but requires a clear breakout above the cloud for confirmation.
4. Bulls Power (13): Currently at 501.47, indicating growing bullish pressure and rising demand.
5. Trading Strategy Suggestions:

• Trend Continuation Buy: Consider buying on any weekly close above the cloud top (~3,100) targeting 3,294.20 and beyond.
• Pullback Entry: Look to buy on retest of 2,526.52 with bullish confirmation.
• Range Watch: If price consolidates inside the cloud, expect choppy moves — avoid aggressive positions without breakout confirmation.
  
  

Market Performance:
Crypto       Last Price      % Change
BTCUSD      108,624.20     −0.07%
LTCUSD       91.553            −0.03%

Today’s Key Economic Calendar:
UK: GDP MoM
US: PPI MoM