All information in ETH The technical forecast indicates that Ethereum formed a Double Bottom Formation and then broke out over $1,745 in price. The rise appears likely to continue based on further technical signs as well. Holding open purchase orders by investors might lead to a 12.25% breakout in ETH, which could see it hit $1,958. Following a breakout like this, traders will begin to search for opportunities to trade with ETH above the line of resistance, which should lead to a notable increase in trading activity.

The Relative Strength Index (RSI) currently at 75 indicates that Ethereum's price is positioned to maintain its upward trend. However, investors need to be cautious as

overbought conditions may encourage them to take profits or protect their investments. Furthermore, the Money Flow Index (MFI) shows that the advantage is in favor of the bulls. The index tracks the inflow and outflow of money into the market and indicates that control is in the hands of buyers during an uptrend.

Market experts emphasize that surpassing the $2,000 level in ETH is a significant milestone for Ethereum bulls. The breakthrough of this level could potentially trigger the next bull run.

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