“Ethereum (ETH) Price Update: Key Points You Need to Know“
The Ethereum (ETH) price has recently paused its uptrend after reaching $1,900, leading to profit-taking activities among traders. The largest smart contracts token has experienced a 2.4% decrease in the last 24 hours, trading at $1,866 with a 6.4% dip in trading volume and a subsequent 1.5% drop in market cap to $224 billion. It’s expected that Ethereum will gather liquidity for the next breakout above $2,000.
Ethereum Price Bullish Scenario – Bull Flag Pattern
On the weekly chart, there’s a bullish flag pattern forming and validating the bull flag. This pattern is characterized by price rallies separated by a consolidation period. The bull flag breakout has been validated, but due to resistance at $1,900, buyers lack momentum to complete the 49.44% breakout target of $2,678.
Analyzing Ethereum Price Movement
With Ethereum price holding above all three moving averages and resistance at $1,900, buyers lack momentum to complete the 49.44% breakout target of $2,678.
Finder Analysts Predict Ethereum Price Rise To $5.8k By 2025
Finder predicts a potential surge in Ethereum price to $5,800 by 2025 based on predictions from industry leaders.
Hot Take: What’s Next for Ethereum (ETH) Price?
The future of Ethereum price remains uncertain as it faces resistance at $1,900 and potential macro headwinds that could limit its upside action in the short-term.
John is a seasoned crypto expert who provides valuable insights on price trends and market forecasts. It’s important to do your market research before investing in cryptocurrencies to mitigate personal financial loss.
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