Analyst sets date when Ethereum will hit $5,700
2025-07-06 14:15:43
Main Idea
A trading expert predicts Ethereum (ETH) could reach a new record above $5,000, potentially extending to $8,000 in the coming months, based on long-term weekly charts and technical analysis.
Key Points
1. Ethereum's long-term weekly charts show a pattern of rising lows from June 2022 to April 2025, suggesting upward pressure.
2. April 2025 marked a lower low, forming a rounded bottom structure at the $2,425 support level, which ETH quickly reclaimed after a brief dip.
3. Key resistance levels to watch are $3,068 (0.618 Fibonacci retracement) and the $3,800 to $4,000 range, with a real target at $5,791 (1.618 Fibonacci extension), potentially reaching $8,500.
4. Maintaining the $2,500 support zone is crucial for upside momentum, with consistent buy-side interest between $2,500 and $2,600.
5. The next major resistance lies near $2,800 and $2,900, a supply zone ETH has struggled to break above since May.
Description
A trading expert is projecting that Ethereum ( ETH ) is likely to hit a new record above $5,000, potentially extending to $8,000 in the coming months, citing bullish technical indicators. The outlook is based on Ethereum’s long-term weekly charts, which show the asset has been consolidating in a descending triangle pattern since peaking in November 2021. Despite multiple failed attempts to break out of this structure, most recently in December 2024, the pattern of rising lows from June 2022 to A...
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