#ETH Dilemma!!
Demand is rising as a result of the intraday trading volume's improving trend, which is bolstering the breakout phase. The price of ETH has risen an impressive 16.64% in the last eight days, bringing it closer to the overhead resistance level at $2400.
Ethereum pricing is hinting at a breakout trend above $2400; it might soon cross the psychological $2500 barrier. In addition, the possibility of an upsurge is increased by the recent over 6% overnight jump.
A positive trend may surpass the $2400 barrier if the price of ETH maintains its current bullish pace. By the end of 2023, the price of ETH might reach $2800 thanks to a fresh breakout rally. On the other hand, there is a chance of a steep decline and a drop to $1800 due to the downside risk.
The price of Ethereum improves dramatically as the turbulent year 2023 comes to a conclusion, creating an ascending triangle pattern on the weekly chart. Rebounding from the key $1000 mark in November 2022, the Ethereum weekly chart shows that the rally is still gaining strength. Motivated by the recent uptrend surge in 2023 and facing persistent rejection from the $2100 level, the buyers are trying a bullish breakout. Trade View Pushing above the $2200 barrier, the price of ETH surges past the overhead obstacle. Additionally, the weekly chart's breakout surge prevents a death cross and indicates a longer uptrend. In 2024, the bull run might continue exponentially if the purchasers can push the price of Ethereum above $2200. The price of ETH may reach $3825, given the possibility of spot ETF approvals and the impact of the Bitcoin halving on other coins.
