#Ethereum
Trade now . . bullish sentiments๐ซฃ๐ซฃ๐ซฃ
๐๐๐ก๐ก ๐๐ฉ๐๐๐ง๐๐ช๐ข ๐๐ง๐๐๐ ๐๐๐ก๐ก๐ฎ ๐ฉ๐ค $3,200 ๐๐จ ๐๐๐ก๐ก ๐๐ฉ๐ง๐๐๐ฉ ๐๐๐ซ๐ค๐ฉ๐จ ๐๐ง๐ค๐ข ๐ฝ๐๐พ ๐ฉ๐ค ๐๐๐
Ethereum price targets a 24% rally to $3,200 as institutions shift their focus from Bitcoin to ETH due to its strong technical structure.
Ethereum (ETH) is receiving a lot of interest from firms on Wall Street that are pursuing the asset for crypto-focused treasuries while abandoning Bitcoin (BTC). This interest coincides with the appearance of a symmetrical triangle that hints Ethereum price is about to record a 20% rally to $3,200. As of July 8, ETH was trading at $2,577 with a slight 0.8% increase in the last 24 hours.
3,200
ETH price appears to have formed a symmetrical triangle pattern, which is a sign that, after the price has been in consolidation for a long time, it is about to experience a strong breakout. The four-hour chart is showing that ETH is close to the edge of this narrowing formation, and if it can move above the resistance level at $2,604, it is possible that Ethereum will surge.
If ETH can confirm a strong close above this resistance line, it is likely that the price will move upwards, and the most immediate target from the 24% rally will be $3,200.
The MACD indicator is aligning with this bullish narrative for the Ethereum price prediction portrayed by the symmetrical pattern. This is because it has created a buy signal from the MACD line crossing above the signal line. At the same time, the RSI with a reading of 59, is supporting that bullish traders have the upper hand, and the price of Ethereum will likely make a strong move.
Going by this technical structure and the surging demand from institutions, it is possible that the ETH price will move past the psychological level of $3,000 that bulls have been targeting for a long time. The largest altcoin might also end up outperforming Bitcoin if the level of interest in it remains significantly high.
