Ethereum Targets $4,000 Amid Bullish Momentum
Ethereum's weekly chart reveals a promising trajectory, with ETH/USDT demonstrating steady recovery momentum. The price is currently consolidating above the key support zone around $2,800, suggesting the formation of a cup pattern, a classic bullish reversal signal. This pattern indicates growing accumulation and a potential breakout toward higher levels.
The exponential moving averages (EMAs) show alignment with the bullish trend, with the 20-week EMA acting as dynamic support. If Ethereum maintains its position above this zone, the next target lies at $3,193, a critical resistance level. A successful breach here could propel ETH toward the significant psychological barrier of $4,000, marking a return to robust upward momentum.
The exponential moving averages (EMAs) show alignment with the bullish trend, with the 20-week EMA acting as dynamic support. If Ethereum maintains its position above this zone, the next target lies at $3,193, a critical resistance level. A successful breach here could propel ETH toward the significant psychological barrier of $4,000, marking a return to robust upward momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.