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Ethereum (ETH) Price Prediction & Analysis: The Calm Before the Storm to $3,000?
A recent tweet by analyst Michael van de Poppe has sparked interest in Ethereum’s price action. According to his analysis, a breakout above the crucial resistance zone between $2,100 and $2,150 could drive Ethereum prices up by 30%, potentially reaching the $2,800 mark.
In this article, we’ll dive deeper into the current price action and explore potential implications for Ethereum’s future trajectory.
Ethereum’s recent price movements have been anything but predictable. Despite a brief dip below the $2,000 psychological level, the cryptocurrency has shown signs of recovery. The short-term recovery suggests an increased likelihood of a positive crossover between the 50 and 100 EMA lines, which would be another bullish signal.
The harmonic pattern formation in Ethereum’s price action has traders waiting for a breakout above the critical resistance zone. As the asset approaches this crucial level, institutional investment reported net-zero flow on March 24, marking the seventh day of net-zero flow since the inception of Ethereum ETFs in the U.S. market.
Despite this minor setback at the $2,000 mark, Ethereum’s overall trend remains bullish, with the uptrend maintaining its momentum.
Source: https://coincentral.com/ethereum-eth-price-prediction-analysis-the-calm-before-the-storm-to-3000/
