Participants in the market, where the price continues to consolidate within its daily upward range. Over the past three days, Ethereum has managed to stay above a key resistance level, which is usually interpreted as a positive indicator of bullish momentum. However, technical indicators suggest continued caution, especially regarding the strength of the momentum.

Analyst Mounin Baba maintains a bearish outlook despite the technical signals.
Mounin Baba, a well-known technical analyst in the crypto community, recognized for his regular chart-based market comments, emphasized that Ethereum still faces ongoing risks despite the apparent bullish trend. Mounin Baba is active on various social media platforms and is often cited for his contrarian views, focusing on key technical indicators rather than market sentiment.
According to this analyst, the inability of Ethereum’s Relative Strength Index ((RSI)) to surpass its high on April 1 casts doubt on the strength of the current trend. Despite the price remaining within the upward range and breaking through resistance levels, Mounin Baba still sees a possibility of a significant decline in the price.