Forecast $ETH : Aiming for Historical Maximum
Ethereum is currently holding just below the important resistance at $3,800. If ETH manages to break through this threshold, it could initiate a rally of 97% to $7,346, as suggested by the 'cup and handle' pattern.
However, the price needs to consolidate above $3,800 for any potential price increase to become a reality.
Breaking through $3,800 is also the key to overcoming the $4,000 mark, the current maximum of this year. This will boost the confidence of retail holders and attract the interest of institutional investors.
If the Liveliness metric continues to rise while long-term holders are selling, the bullish scenario may be at risk. Prolonged selling could lead to a price drop to $3,327. This would nullify the current bullish forecast and delay the expected rally.#2024withBinance
