Price Outlook and Forecast for $ETH
Recent resistance is around $4,344, with stronger resistance between $4,400 and $4,450. If the closing price breaks through these resistance levels, it may open the path to $4,800-$5,000, which aligns with analysts' expectations. Ali also noted that using a pricing range model, $5,210 and $6,946 could be long-term targets.
Support levels are in the range of $4,150 to $4,200, and if a larger correction occurs, further support is around $3,950. A large influx of ETF funds, corporate buying, and lower foreign exchange reserves are bullish factors, but overbought data suggests caution in the short term.
ETH is still 12% lower than its historical highs. Strong institutional buying and favorable on-chain data suggest that ETH is likely to break through $5,000 in the coming weeks.
Strong recovery, asset doubling! Stay nostalgic, plan ahead, and easily reap great profits.
Keep an eye on: A2Z YALA
