📊MARKET WATCH 👀
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🚨ETHEREUM SIGNALS POTENTIAL PARABOLIC MOVE AS IT APPROACHES THIS CRITICAL SUPPORT 🚨
After thrice rejections, $ETH is again reaching a critical resistance zone of $4k - $4.1k marked in yellow on the weekly chart below. Whether the second flagship #crypto will overcome the zone this time or not is yet unknown.
But considering the green arrow-up ⬆️, where it initiated a major buy at $800 and $1,385 in mid 2022 and April 2025 respectively, it appears loading up for a massive explosion capable of skyrocketing the price to a new all-time high 🚀. Though $BTC must sustain bullish momentum or remains in a consolidation phase for this setup to play out.
If that happens, Ethereum could top at $6k or even $7k before ending bull run. Another strong #bullish indicator to keep in mind is the double-bottom formation on the weekly timeframe - an increase above the yellow zone should confirm a break out of the neckline. However, a continuous rejection there may trigger a huge sell-off under $1k, which may metamorphose in a serious #bearishmomentum .
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What do you think?
