Ethereum Could Target $3,000 Once It Breaks Current Supply Levels – Analyst 📈
Ethereum has been suffering from a prolonged consolidation below key resistance levels, with its price locked between $2,650 and $2,750 for the past week. This uncertainty has raised concerns among investors about Ethereum's ability to recover.
Crypto expert Carl Runefelt suggests that Ethereum is forming a bullish pattern on the daily timeframe, possibly setting the stage for a breakout. If Ethereum surpasses the $2,800 level, it could signal a trend reversal towards the $3,000 mark.
Currently, Ethereum's price remains stagnant at $2,750, facing critical resistance at $2,800. A successful breach could lead to a strong upward rally, while failure to hold the support might drag the price lower. The next move is crucial for determining Ethereum's short-term direction.
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