๐ฅ๐๐ฅ๐ETHEREUM PRICE FORECAST: A COLOSSAL TAKEOFF IN SIGHT?๐ฅ๐๐ฅ๐
๐จ Ethereum (ETH) poised to surpass Bitcoin?
Ethereum (ETH), the 2nd largest cryptocurrency by market capitalization, is currently attracting the attention of investors and traders. As of November 28, 2024, ETH managed to break through a key resistance level, suggesting a notable rise in the days to come.
According to technical analysis, sentiment around ETH has trended significantly upwards. In addition to breaching the horizontal support at $3,550, the altcoin also broke its 5-day consolidation zone.
This zone crossing near the resistance level is considered successful, as notable accumulation has been observed in this area recently.
Ethereum (ETH) Price Prediction
Based on recent price action, if ETH sustains above the $3,580 level, there is a high chance that it will rise by 15% to reach the $4,000 mark in the coming days. With a possibility of climbing even higher if the bullish sentiment persists.
On the positive side, ETH is trading above the 200-day exponential moving average (EMA) on the daily chart, indicating a bullish trend. Additionally, its relative strength index (RSI) suggests a possible rise in the days to come.
A window of opportunity for ETH investors?
Ethereum appears to have reached an important milestone and could be poised to overtake Bitcoin in the coming days.
With favorable technical and on-chain signals, investors and traders would do well to keep a close eye on the developments of the 2nd largest crypto asset. Be on the lookout, because Ethereum's imminent rise could push its price to a new record soon.
