Ethereum's Next Big Move? 🚀 Bulls Eye $3,100!
Ethereum (ETH) is looking super strong, hovering around $2,930 and holding crucial support! 💪 After a massive rally that saw it jump from $2,770 to over $3,030 on July 10th, it's been in a cool-off phase, but the bulls are firmly defending their ground.
According to analyst The Cryptomist, ETH is forming a falling wedge pattern on the 1-hour chart, which typically signals a bullish breakout! 📈 This could send Ethereum soaring towards the $3,100 mark if it breaks through resistance. Since July 10, ETH has seen lower highs but remains stable around $2,920, showing that pressure is building for a big move.
Key Resistance at $2,940! 👀
Currently, ETH is consolidating between $2,920 and $2,940. That $2,940 level has been a tough ceiling, with sellers pushing back every time. However, buyers aren't giving up, and the $2,930 support is holding firm. Trade volume has been steady, hinting that both sides are getting ready for the next big push. If ETH can blast past $2,940 with strong volume, the path to $3,100 could open up quickly! 💥 If support doesn't hold, we might see a retest of lower levels near $2,880.
Long-Term Bullish Outlook! 💰
Beyond the short-term tension, long-term analysts are incredibly optimistic! Crypto Patel, a well-known market commentator, is highlighting Ethereum's impressive 2x rally from $1,385 to $3,040. He believes current prices are still a steal and is targeting $6,000, $8,000, and even $12,000 by the mid-2020s! 🤯 He even calls any dip a "golden chance" to buy more ETH, citing strong historical signals like hammer candles near major bottoms in previous years.
Don't miss out on what could be a huge run for Ethereum! Keep an eye on those key levels.
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