Can Ethereum (ETH) surpass $3,407 after hitting a five-month high?
WikiBit 2025-07-17 12:04
Ethereum (ETH) surged 12.14% in 24 hours, reaching $3,407, its highest since February. Market cap rose to $411.27B, while daily trading volume hit
The Relative Strength Index (RSI) reads 81.79, confirming overbought conditions. Yet, the divergence above its 14-day average of 64.90 signals strong upward momentum. Meanwhile, the Chaikin Money Flow (CMF) has surged to 0.28, reinforcing the presence of substantial capital inflows. Such CMF strength often precedes continued institutional accumulation.
ETH also trades well above its 50-day moving average, confirming the prevailing bullish structure. A positive crossover between the RSI and its average suggests ongoing strength in buyer conviction. All major indicators affirm that Ethereum is riding a decisive wave of buying pressure.
Still, the overbought RSI suggests a near-term consolidation could occur. If resistance levels break consecutively, Ethereum may push toward new yearly highs, with investor confidence and capital inflows driving the next leg up.
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