Ethereum is testing a key resistance level around $2,640, and many analysts believe that breaking this point could trigger a significant surge in price. As the entire crypto market gains strength, optimism is growing among investors, who are eagerly waiting for Ethereum to catch up with Bitcoin’s recent rally.
The sentiment is positive, and traders are closely watching to see if ETH will make its move soon. Top analyst and investor Carl Runefelt has shared a technical analysis highlighting an optimistic outlook for Ethereum in the coming days. He believes that a successful breakout above $2,640 could push ETH to much higher levels, aligning with the market’s overall bullish trend.
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As the market strengthens, the next week will be crucial, not just for Ethereum but for the entire crypto space, as investors prepare for what could be the start of a new rally.
With key resistance being tested and momentum building, Ethereum’s next move will likely set the tone for its performance in the short to mid-term. Investors and analysts are keeping a close watch, as the outcome of this resistance battle could determine the direction of Ethereum’s price action in the near future.
Ethereum Needs A Clean Breakout
Ethereum looks ready for a significant rally, with price action suggesting a move to new highs. The market is buzzing with excitement as greed rises and bullish momentum takes hold, pushing ETH toward a potential breakout.
After weeks of accumulation, Ethereum is now flirting with breaking out of a bullish pattern, setting the stage for a possible surge.
Top analyst and investor Carl Runefelt has shared his technical analysis on X, highlighting that Ethereum needs a clean breakout from its current ascending triangle pattern.
According to Runefelt, the upside target is $2,800, which marks the last major resistance level from the two-month accumulation phase ETH has experienced. A successful breakout from this key structure would signal the start of a potential rally, fueling optimism across the market.
Runefelt also emphasized the importance of this lower timeframe price action, calling it crucial for Ethereum’s long-term development. Breaking above $2,800 could open the door to even higher levels, aligning ETH with the broader bullish sentiment…
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