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Ethereum Price Analysis: ETH Consolidates Below $5K But a Bearish Divergence Looms

Key Support level: $4,354
Key Resistance level: $5,075
The momentum behind ETH remains very strong, which has pushed prices higher and higher. The expectation to see ETH at $5,000 is on everyone’s mind, and this price level is less than 5% from the current all-time high. This should be an easy target to reach for ETH considering the price action.
However, there are a few warning signs that the bears may prepare a trap for the bulls as they push the price to the current resistance at $5,075.
The bearish divergence forming on MACD and RSI seems to indicate that once ETH hits $5,000, the bears can jump in and pull it down in a more significant correction that can retest the current support at $4,354.
Chart by TradingView
ETH Price Technical Indicators
Trading Volume: Sustained volume on this move up. However, as the price is moving higher, the volume is making lower highs. This is a bearish signal.
RSI: The RSI continues to remain just under the 70 points level on the daily timeframe de

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