#Ethereum (ETH) is stuck in consolidation zone, trading in the range of $2,300 – $2,700. However, optimistic forecasts suggest a possible breakout if #ETH holds above critical support levels.
Potential for growth
The historical pattern of ETH/$BTC points to the formation of a bottom similar to 2016, when Ethereum showed multiple growth. Although such figures are unlikely now, analysts note positive signals.
Macroeconomic conditions
The volume of profitable transactions on the ETH network is consistently high, which indicates a strong position of the token and growing interest from investors. This could contribute to a breakout of the $2,700 level and subsequent growth to $3,000, provided the price consolidates above the uptrend. However, a violation of the $2,300 level could weaken the bullish sentiment, attracting pressure from the bears.
Forecast for the near future
A successful break of $2,700 will be a key step for $ETH , opening the way for further growth, strengthening the bullish trend.
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