Ethereum Surges 65%: Analysts Suggest Potential Targets of $4,500 and Beyond Amid Strong Market Momentum
Main Idea
Ethereum's price has surged by 65% in the past month, with analysts predicting potential targets of $4,500 and $12,000 if the bullish momentum continues.
Key Points
1. Ethereum broke key resistance levels, with immediate resistance identified at $4,200-$4,214 and further barriers at $4,500 and $5,000.
2. Support levels are found around $3,800-$3,600, where prior consolidation occurred.
3. Analysts, including Michael van de Poppe and Captain Faibik, attribute the rally to strong market momentum and a breakout from a multi-year ascending triangle.
4. The breakout projects a long-term target of $12,000, with intermediate resistance zones at $6,600 and $8,900.
5. Sustained monthly closes above $4,300 could confirm the breakout, while a drop below $4,000 risks a retest of the $2,500-$3,000 support range.
Description
Ethereum has surged by 65% in the past month, breaking key resistance levels and setting sights on targets of $4,500 and $12,000 if momentum continues. Ethereum’s price rally has been
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