Ethereum is showing renewed strength trading around $2,457, maintaining its position within a long-term ascending channel that dates back to 2017. Analysts highlight the historical significance of this channel, where past rebounds have resulted in massive gains. Despite technical resistance near $2,600, a clear breakout above $2,800 could pave the way toward $4,000 and potentially $10,000. On-chain indicators reveal strong accumulation by whales and institutions, supported by increased network activity and staking deposits. Contrasting metrics suggest a potential buying opportunity amid market caution. The price trajectory for Ethereum depends on surpassing critical resistance levels and sustained investor confidence, while Bitcoin’s market behavior will also influence Ethereum’s rally prospects.
Continue to read Ethereum Eyes $10,000 Milestone as Multi-Year Ascending Channel Signals Strong Uptrend
Ethereum is showing renewed strength trading around $2,457, maintaining its position within a long-term ascending channel that dates back to 2017. Analysts highlight the historical significance of this channel, where past rebounds have resulted in massive gains. Despite technical resistance near $2,600, a clear breakout above $2,800 could pave the way toward $4,000 and potentially $10,000. On-chain indicators reveal strong accumulation by whales and institutions, supported by increased network activity and staking deposits. Contrasting metrics suggest a potential buying opportunity amid market caution. The price trajectory for Ethereum depends on surpassing critical resistance levels and sustained investor confidence, while Bitcoin’s market behavior will also influence Ethereum’s rally prospects.
Continue to read Ethereum Eyes $10,000 Milestone as Multi-Year Ascending Channel Signals Strong Uptrend
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