Mareena
07/17 15:04
Ethereum Soars to $3,350, Is a $10K Breakout Immin
Ethereum Soars to $3,350, Is a $10K Breakout Imminent?
- Ethereum reaches $3,350, marking a 6.72% growth in 24 hours, with trading volume hitting $49.11 billion.
- Price targets of $6,000, $8,000, and $10,000 are possible, but a short-term dip to $2,800 could occur.
- RSI at 65.07 shows strong buying pressure, while MACD confirms a continued bullish trend ahead.
As of press time, Ethereum (ETH) is trading at $3,350, marking a modest increase of 6.72% over the past day. The trading volume for the same period stands at $49.11 billion, reflecting a 37.08% uptick. Over the previous week, the ETH coin price has increased by 37.08%. Ethereum has surged above the $3,400 level, the first time in five months, indicating a strong upward movement.
Crypto Patel highlighted that Ethereum broke out of a significant inverse head & shoulders pattern. According to the analyst, this breakout preconditions Ethereum to move up. The action in breaking out of $3,400 has exhibited a bullish sentiment. Patel predicts that Ethereum might hit $6,000 in the short term. He termed the future of the second-largest altcoin as mega bullish. This comes with an expectation of ETH hitting $6,000, $8,000, or even $10,000. Such price targets indicate the current bullishness of the market.
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