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Ethereum Accumulation Zone Signals Bullish Momentum Toward All-Time High
As the cryptocurrency market continues to fluctuate, Ethereum (ETH) has been consolidating between $2,800 and $4,000, indicating a strong accumulation zone that could signal the next phase of growth. The recent consolidation may be a preparation for another all-time high.
The current HTF demand zone, ranging from $2,200 to $2,800, is crucial for Ethereum’s price structure. Buyers have consistently regained control when ETH tests this area, revealing robust demand and reinforcing its importance as a support zone. Furthermore, Fibonacci retracement levels between $3,098 and $3,717 emphasize the significance of this range.
ETH has previously rebounded strongly from this level after sharp declines, affirming the zone’s relevance in stabilizing the price structure. Additionally, the recent ATH at $4,879 looms as a critical long-term target that could be retested if resistance levels are overcome.
The current consolidation phase reflects a market preparing for its next move, offering traders an opportunity to accumulate within the HTF demand zone. This development aligns with historical data and reinforces the potential for sustained growth.
In conclusion, while a failure to hold the buy zone could disrupt the bullish narrative, traders should closely monitor price movements near the $2,200-$2,800 range. Reclaiming resistance at $3,717 and testing the $4,879 ATH would mark the next phase of Ethereum’s growth.
Source: cryptonewsland.com
