Ethereum recently reached a new all-time high (ATH) of $6,300 before beginning its current decline—a movement that could be favorable for the market's overall health. This correction provides an opportunity to stabilize before initiating another growth cycle.
Short-Term Correction Expected
I anticipate a retracement to the $2,690–$2,870 range, with $2,773 being an optimal level for accumulation. This correction is a natural part of market dynamics and could lay the foundation for the next significant upward move.
Next Growth Cycle and Key Levels
Once the correction concludes, Ethereum is likely to begin a new growth phase. However, for this growth cycle to gain momentum, a critical resistance level—where the current correction originated—must first be broken and confirmed as support.
Upon successfully reclaiming this level, Ethereum is poised to surge toward new highs. Targets of $4,700 and $6,311 are achievable given the current market conditions and supporting developments.
Final Thoughts
Ethereum's trajectory remains bullish over the long term, and this correction presents a potential buying opportunity for those looking to capitalize on the next rally. Stay informed and follow updates for timely market insights and strategies.
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