Ethereum (ETH) Breakout Signals Potential 20% Price Rally
Ethereum (ETH) is the world’s second largest cryptocurrency divided by market value and market value. As it forms a bullish price action within the daily range, it is expected to conduct large -scale upward rally. Despite the recent decline in the cryptocurrency market in the past few days, price action shows that emotions have been ready to change from a downward trend to the upward trend.
Ethereum (ETH) technology analysis and upcoming level
According to the technical analysis of experts, Ethereum has been formed since November 2024. After the breakthrough, the emotions seem to have completely changed.
Based on the historical price momentum, if ETH successfully closed the daily candle higher than this mode, that is, the level of $ 3,400, it can soar by 20 % to reach the level of $ 4,100 in the future. At present, Ether is facing a moderate resistance of $ 3,400, which may play an important role in its future benefits.
In terms of positive aspects, the relative strength index (RSI) is 55, indicating that ETH has sufficient power to maintain the amount of momentum.
Mixed emotions on the chain
However, although the market uncertainty has made breakthroughs and obtained recent returns, it is reported that long -term holders and investors have been dumping their assets. Small shopEssence Data from spot inflow/outflow show that the exchange has seen Ethereum in Ethereum worth $ 103 million.
In the cryptocurrency industry, inflow refers to the flow of assets from wallets to exchanges, indicating that potential selling can lead to sales pressure and further prices.
However, not only long -term holders have shown their strength, but also traders have been betting for a long time, showing that their views are their views.
At the time of publication, the lower part of the main liquidation area was $ 3,305, the bull’s excessive leverage rate, holding a long position worth $ 360 million. On the contrary, $ 3,370 is the level of excessive leverage for short -selling people, holding short positions worth $ 190 million.
The indicators on these chains suggest that the Bulls are strongly dominated by assets and can support Ethereum against the level of resistance of $ 3,400.
Current price motivation
ETH’s current transaction price is close to $ 3,350, and prices have risen more than 1.50 % in the past 24 hours. However, during the same period, its transaction volume increased by 10 %, indicating that the participation of traders and investors has increased, which may be driven by recent breakthroughs.
