Ethereum price hit a new multi-month high above $3,200, consolidating as Bitcoin surged past $55,000.
Within the last 30 days, Ethereum saw an impressive 48.5% increase, breaking through the $3,200 barrier for the first time since April 2022.
The surge may be influenced by expectations surrounding a potential Ether exchange-traded fund (ETF) in the US, pending approval from the SEC.
Daily chart analysis suggests the rally has approached the upper boundary of an expanding channel pattern.
Close to the $3,300 level, encountering the upper trendline could trigger a correction due to significant selling pressure.
Failing to maintain levels above $3,300 might lead to support around $3,000.
Breaking above the trendline could fuel a push towards the $3,500 level.
The critical question is whether Ethereum will break the trendline and continue its upward trend or experience a temporary halt.
According to Coingabbar Prediction, Ethereum price prediction 2030 is around $10,000.
KEY LEVELS :
RESISTANCE LEVEL : $3,300-$3,380
SUPPORT LEVEL : $3,200-$3,130
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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