Ethereum Welcomes a Key Breakthrough! Sprinting Towards $3000 Opens a New Era of Explosive Growth, Targeting $4200 and Even $19500?
Ethereum's technical landscape is booming! Analyst Cas Abbe delivers a shocking forecast, stating that ETH has completed its correction phase and entered a recovery stage. As long as the monthly closing price breaks through $3000, it will enter the 'impulsive phase,' sparking a new round of frenzied growth! The weekly chart shows an expanding wedge, indicating significant volatility ahead, with a target price aimed directly at $4200! Even more explosive is the two-week chart showing an inverse head and shoulders pattern, with the neckline at $4200. Once it breaks through, the long-term target could skyrocket to an astonishing $19500!
The capital side is equally on fire: BlackRock's spot ETF continues to increase its holdings, with the latest addition of $160 million, showing strong institutional buying pressure. The bipartisan support in the U.S. for stablecoin regulation legislation is significant, as the vast majority of stablecoins are based on Ethereum, boosting the network's ecosystem. The May Pectra upgrade significantly enhances scalability and user experience, instilling confidence in the market.
However, caution is advised; the $2800-$3000 range poses significant pressure, with over 2.27 million ETH cost lines potentially triggering selling pressure. If it falls below the $2400 support, the market may face setbacks. The ETH/BTC ratio has shown signs of a bottom bounce, and institutions are optimistic about ETH as a core asset in blockchain, with long-term value not to be underestimated.
In summary: Breaking through $3000 will ignite a new chapter in the Ethereum bull market, with $4200 merely being the starting point, targeting the ten-thousand mark! Opportunities and risks coexist; seize the layout and brace for the crypto storm!
