Ethereum Price Prediction, Will the Sky be the Limit for this Bull Run
- Ethereum's price is approaching the $2,300 level, a milestone not seen since the TerraUST crash in May 2022.
- The recent breakthrough above the critical $2,140 resistance is a noteworthy development, suggesting the possibility of a historic bull run.
- A significant breakout above the upper resistance level has the potential to intensify buying interest and extend the current recovery trend.
Ethereum surged past $2,200 but encountered resistance at $2,300.
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According to Coingabbar Technical Analysis, Ethereum recently experienced significant price volatility, fluctuating between $1,920 and $2,136.
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The Daily chart indicates that Ethereum has broken through an ascending triangle pattern and is currently trading above it.
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A bullish breakout from the wedge pattern could indicate the beginning of an uptrend.
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With five consecutive bullish days, Ethereum reclaimed momentum, reaching above $2,200 for the first time since May 2022.
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The price surged over 3%, maintaining an upward trajectory towards the $2,300 resistance.
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If bullish momentum persists, Ethereum may test the $2,300 resistance level, with a potential rise to $2,500 this month.
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Conversely, if bears take control, the price could lose momentum and test the $2,200 support level. Further bearish pressure might lead to a decline towards the lower support range of $2,130-$2,000.
KEY LEVELS :
RESISTANCE LEVEL : $2,280-$2,320
SUPPORT LEVEL : $2,200-$2,150
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
