Technical analysis by FeelsStrategy about Symbol ETH on 9/5/2024

📝Ethereum dropped to minimum values ​​on the RSI indicator. Below is only when the bottom of the cycle. 📝Also, the price is testing the baseline of the Keltner channel, which is also strong support. 📝Of course, one cannot fail to mention that in the cycle where ether was accepted as a commodity on the market in the form of an ETF, it has not yet broken the fiat ATH, I think about the inflation of the dollar over the years and there is no need to remind. 🤔Trick question, are all these factors bullish or bearish for Ethereum?Four months ago, when Ethereum was falling below $2,000, I said that it was an attractive price. Even when it rose above $3,000, I still think it is undervalued and is certainly lagging the market. We will see more movement in Ethereum this year.#Ethereum Keltner Channel 👀 📝 ETH is now approaching the upper band of the Keltner Channel. In previous cycles, this level often signaled overbought conditions, but it’s important to recognize that we’re in the late stages of the cycle. 📍 What makes this phase different is that price can remain in the “red zone” for an extended period, just like in 2021. The same goes for RSI: while it’s entering overbought territory, history shows it can stay elevated during strong bullish legs. 🌍 For now, seasonality and macro factors are still driving volatility in both directions this month. However, in the medium-term trend, I’d expect ETH to continue pushing toward the upper boundary of this channel. 💡 Short-term swings possible, mid-term bias remains upward.