Ethereum’s price is showing short-term gains, potentially reaching $3,500 soon, but longer-term predictions suggest sideways trading. Always do your own research before investing in crypto!
Short-Term Ethereum Price Surge
The source indicated that Ethereum (ETH) has seen a decent jump of 4.37% in the last 24 hours which is pretty significant in the volatile world of crypto. The analysis points out that on an hourly chart, ETH broke past a resistance level at $3,370 and if this momentum continues there is potential to hit the $3,500 mark by tomorrow. Think of it like a small hill that ETH just climbed, and now it’s got a clear path to the next one. This is good news for anyone holding Ethereum right now!
What About the Longer View?
While things look good for the very near future, the source explained that a slightly different picture emerges when looking at a bigger time frame. According to the analysis, if Ethereum closes around its current price levels today we might see it test even higher prices in the $3,500 – $3,600 range by the end of the week. However, stepping further back and looking at a midterm point of view paints more of sideways trading scenario as it’s still far from major levels. Essentially what this means is that while there might be some quick ups and downs over the next few days, don’t expect any huge dramatic changes overall in terms of price. Right now, Ethereum is trading at around $3,404.
It’s super important to remember that this analysis, like any crypto prediction, should be taken with a grain of salt. The source revealed that financial information is just for informational purposes and not actual investment advice. Before jumping into the world of crypto you should always do your own research or talk to a financial expert. Cryptocurrency markets are known for their ups and downs so it’s best to be informed before making decisions!
Source: Ethereum | Bitcoinethereumnews.com
