Ethereum Tests Key Weekly Resistance – Analyst Sets $4K Target If ETH Breaks Out 🚀
Ethereum is demonstrating a strong move toward the $2,850 resistance, a crucial level in its price cycle. Breaking through could propel Ethereum to $3,000 and beyond, potentially setting the stage for a broader altcoin surge. Analyst Ted Pillows emphasizes the importance of this level as a key resistance point.
Market sentiment is optimistic, influenced by Ethereum's resilience amidst macroeconomic changes. Spot demand strengthens, and investors regain confidence. Recent recovery has seen Ethereum reclaim vital weekly levels, including the 34-week EMA, suggesting a turnaround.
The cryptocurrency is primed for a significant breakout if it sustains its current momentum, potentially leading the next phase of the crypto market rally as it eyes the $4,000 benchmark.
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