Ethereum (ETH) Price: Breaking $2,500 Barrier With 40% Weekly Gain 🚀
Ethereum's price saw a significant surge of nearly 40% over the past week, successfully breaking the $2,500 barrier. This impressive rally indicates the formation of a rounding bottom pattern, which could point towards an ambitious breakout target of $4,570.
Moreover, as Ethereum's price climbs, almost 67 million ETH are approaching profitability, further bolstering bullish market sentiment. A modest 3% movement in ETH's price may lead to considerable short liquidations, potentially involving up to $786 million.
The driving force behind Ethereum's notable rally seems to be spot trading activities, which have renewed investor interest and optimism.
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