Analyst: Multiple bullish signals for Ethereum

ChainCatcher news reports that Illia Otychenko, the chief analyst at the Gibraltar-based cryptocurrency exchange CEX.io, stated that ETH has been showing bullish signals since October. At that time, the weekly Relative Strength Index (RSI) broke through its downward resistance trend line.

Otychenko pointed out that this pattern has historically been associated with bullish momentum.
He also discussed the weekly MACD, which showed a "bullish crossover" at the same time, typically marking the beginning of a new round of rebounds. Otychenko noted that when this signal combination has appeared in the past, it usually led to ETH prices rising by more than 100%.