#ETH Breaks $2,700 ⭐To analyze Ethereum's price action around the $2709 level, several technical indicators can be useful. Here are some key ones:

- *Relative Strength Index (RSI)*: This indicator measures the magnitude of recent price changes to determine overbought or oversold conditions. Currently, ETH's RSI on the 4-hour chart is below 45, indicating a bearish divergence. A drop below 30 could signal an oversold condition, potentially leading to a bounce back.
- *Parabolic Curve*: Ethereum's long-term price action follows a parabolic curve, which has defined its major market cycles since 2015. The curve's lower boundary near $2,100 has triggered major rallies in the past. If this trajectory holds, Ethereum's next move could be toward the upper boundary, currently intersecting near $10,000.
- *Symmetrical Triangle*: ETH's two-week price chart shows a symmetrical triangle formation, which resembles past macro consolidations. A breakout above this triangle could lead to a significant price increase, potentially targeting $10,000 or even $20,000.
- *200-2W Exponential Moving Average (EMA)*: ETH's price has bounced off the 200-2W EMA support, confirming a bullish rejection. This indicator can help identify trends and potential support levels.
- *Altcoin Season Index*: This index has broken out of a downtrend, signaling a potential shift away from Bitcoin dominance. If this trend continues, Ethereum and other altcoins might outperform Bitcoin.
- *ETH/BTC Ratio*: The ETH/BTC trading pair showed a slight dip of 0.8% in the last 24 hours, with ETH underperforming Bitcoin. Monitoring this ratio can provide insights into Ethereum's relative strength.
- *On-Chain Metrics*: ETH's net exchange inflows increased by 18,000 ETH in the past 24 hours, signaling potential distribution by large holders. This metric can help identify buying or selling pressure.
- *Moving Average Convergence Divergence (MACD)*: Although not directly mentioned, the MACD could provide additional insights into Ethereum's trend and potential buy or sell signals.

Keep in mind that these indicators should be used in conjunction with other forms of analysis and risk management techniques to make informed trading decisions ¹ ².#PFVS Launchpad is Live #April CPI Data Released