I don't anticipate us revisiting the support level, but if we break through the current resistance, our next target on the upside is $1. Be sure to add this to your watchlist, set an alert at the resistance level, and stay ready for the potential breakout.
The short-term target for CRYPTOCAP:ETH is $7231. Once the current resistance level is broken, there's even potential for a parabolic run-up. It's important to note that with 19,595,173 ETH currently TVL, the less circulating supply there is the demand increases, adding upward pressure!
As you can see, during the accumulation phase, we've established a strong support level. A breakout above the diagonal resistance line would set a target of $2.70, provided we remain above the key support level. The estimated timeframe for the breakout is within the next 5 days
We are currently in a rising wedge pattern, which is generally considered a bearish setup. Despite multiple attempts, we've been unable to break above the $100k mark, which has proven to be a significant psychological barrier, accompanied by strong selling pressure. As we approach the new year, I believe there's a high likelihood we may see a pullback to the $75k...
