Ethereum Forms A Bullish Pattern – Expert Reveals Short-Term Price Target
Ethereum has been trading below $2,800 over the past two weeks as sales pressure on this key level continues to drain the bullish momentum. Investors remain cautious in the case of increased volatility, fearing that Ethereum may increase its losses if it fails to recover from critical levels. Despite uncertainty, some analysts will see potential breakthroughs.
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Top crypto investor Carl Ununefelt shared a technical analysis on X, indicating that ETH is currently trading a 4-hour symmetric triangle. This pattern shows that a decisive move is coming, and if Ethereum manages to stand out, it could return to critical supply levels and tilt towards $3,000. However, if ETH fails to maintain the current level and decomposes from the triangle, it may drop further.
Ethereum has Work hard to gain motivation Compared to Bitcoin and some other Altcoins, concerns arise about its relative weakness in this cycle. Traders are closely monitoring price action in an effort to confirm the next major move. Whether ETH will explode or further downsides remains uncertain, but the next few trading sessions may determine its short-term trajectory.
Ethereum price testing is crucial supply
Ethereum is trying to push it higher than the $2,700 mark and use it as support to confirm the beginning of the recovery phase. But the real challenge is because the key level to be recovered is between $2,800 and $3,000. Analysts warn that deeper corrections may occur if ETH fails to restore these critical supply zones as soon as possible. The market is currently awaiting confirmation in any direction as Ethereum strives to gain bullish momentum.
Carl Duft Share technical analysis Emphasizes that ETH trades in a 4-hour symmetric triangle. Although the direction remains uncertain, this pattern marks an imminent breakthrough. Runeffert noted that if Ethereum manages to break into the upside, the direct target would be the $3,000 resistance level. A breakthrough above $2,800 will strengthen bullish cases and indicate a potential reversal of the recent downtrend.
Ethereum has been trading below $3,000 since early February, with sales pressure blocking the breakthrough. Investor sentiment remains chaotic as some hope ETH retracts its bullish trend, while others are more concerned about disadvantage. Volatility remains a major issue, and traders are looking for technical signals to predict the next move.
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The days that follow are crucial for Ethereum to try to restore its power. If ETH is about to successfully recover its $2,800 score, it will inevitably break the $3,000 bullish situation into $3,000. Traders are closely monitoring price action in an effort to confirm the next major move. Whether Ethereum will resume bullish momentum or face another leg decline remains to be seen.
ETH price action details: technical level
After several days of trying to recover the $2,700 level, Ethereum trades at $2,750. The Bulls are working to maintain this critical support, as maintaining it can provide the momentum needed to break through. If ETH holds over $2,700 and manages to exceed $2,800, it could trigger a bullish rate to higher levels, with $3,000 being the next major target. Actions above this level will confirm the reversal of the recent bearish trend and strengthen investor confidence.
However, as sales pressure continues to weigh ETH, uncertainty remains. If the price cannot be held above $2,700, the bear can restore control and lower the price. Failures below this level may lead to further sales pressure, pushing ETH toward lower support zones. Investors are watching the decisive moves closely, as failure to maintain current levels may cause more pain to holders.
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The next few days will be crucial to identifying the short-term trajectory of Ethereum. A successful $2,800 recovery will pave the way for bullish recovery, while a loss of $2,700 may lead to a deeper correction. Traders are cautious and wait for clear signals before the next step.
Featured images from DALL-E, charts from TradingView
