Ethereum's price rise is gaining momentum as experts are eyeing milestones of 6,600 and 1,10,000 respectively
Ethereum's price rise is gaining momentum as experts are eyeing milestones of 6,600 and 1,10,000 respectively
#Ethereum has surpassed a 5-month high of $3,600, showing bullish momentum with a $4,000 target.
Analyst Ali Martinez predicts that ethereum will reach 6,000 in the medium term and 10,000 in the long term within an ascending channel.
the inflow of "whales" into Ethereum increased by 126.85% in 90 days, reducing supply and stimulating bullish sentiment in the market.
the price of Ethereum is in an uptrend, reaching a 5-month high of $3,600. After a long cross trade, the #cryptocurrency is on the rise, so the next major resistance level will be at 4-4,000.
additionally, the Ethereum price's rise is due to a breakout from the "round bottom" formation, which means a transition from the bearish trend. The breakout above 3550 marked the end of the reversal pattern, which paved the way for further upside.
#ETH is currently close to $3,588, but it is still up 3% in the last 24 hours.
crypto analyst Ali Martinez has outlined a medium-term target price for Ethereum at between $6,000 and $6,000 based on the ascending channel pattern shown on the weekly chart.
The long-term forecast suggests a potential upside to a potential 10,000 if the cryptocurrency continues on its current trajectory. The analysis shows that Ethereum has reached the middle line of the channel. This is a turning point for further upward movement.
Martinez also pointed to the $3,300 and $33,000 levels as key levels to hold. Overcoming the first barrier at the initial level of $4091 could signal the start of the next bull market rally. The golden crossover of the 100-day and 200-day EMAs also supports the Ethereum bulls.
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