⚡ Ethereum Targets $4,100 Break—Next Stop: All-Time High? 🧐📊

A total of $133.51 million worth of futures liquidations have occurred in Ethereum over the course of the last twenty-four hours, according to statistics provided by Coinglass. These liquidations include $74.48 million in liquidated long positions and $59.03 million in liquidated short positions.

The price of Ethereum (ETH) has surpassed the $3,750 barrier level after seeing a rise of more than fifty percent over the course of the previous two weeks and shattering numerous critical resistance levels along the way. It is possible that this will put the leading alternative cryptocurrency on the path to test the upper border of a roughly four-year symmetrical triangle just below the figure of $4,000. Additionally, the top limit of the triangle corresponds with the aim of a bullish pennant that Ethereum has been forming from the month of May until the present.

In the event that ETH makes a strong move over the symmetrical triangle and the $4,100 resistance level, it may be able to challenge its all-time high resistance level, which is 4.78 dollars.

Both the Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) are now in overbought zone, which indicates that bullish momentum is here to stay, but there is a significant possibility that the price may come back.

In the event that a weekly candlestick closes below the support at $3,200, the thesis will be rendered invalid, and ETH may thereafter go closer to $2,850.

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