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%.

ChainCatcher news, according to CoinDesk, on-chain data shows that Bitcoin's weekly MACD has been negative since April, but the Bitcoin price has remained in a slightly downward-sloping channel between $50,000 and $70,000, forming a "bull flag" pattern rather than a sharp downward trend, which contradicts the persistent MACD signals.Indicator data shows that since the end of April, the MACD has remained bearish, coupled with the flag price pattern, suggesting that there is bullish sentiment beneath the surface price action. This indicates that sellers have failed to establish a strong downward trend, as even during the panic selling in early August, the price was only suppressed to between $55,000 and $50,000. The long-term weakness of sellers suggests that a bull market may suddenly revive, leading to a price increase.