#Ethereum

Trade now . . bullish sentiments๐Ÿซฃ๐Ÿซฃ๐Ÿซฃ

๐™’๐™ž๐™ก๐™ก ๐™€๐™ฉ๐™๐™š๐™ง๐™š๐™ช๐™ข ๐™‹๐™ง๐™ž๐™˜๐™š ๐™๐™–๐™ก๐™ก๐™ฎ ๐™ฉ๐™ค $3,200 ๐™–๐™จ ๐™’๐™–๐™ก๐™ก ๐™Ž๐™ฉ๐™ง๐™š๐™š๐™ฉ ๐™‹๐™ž๐™ซ๐™ค๐™ฉ๐™จ ๐™›๐™ง๐™ค๐™ข ๐˜ฝ๐™๐˜พ ๐™ฉ๐™ค ๐™€๐™๐™ƒ

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.