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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Ethereum Forms A Bullish Pattern – Expert Reveals Short-Term Price Target

Sebastian Villafuerte
Sebastian Villafuerte
5 months ago
3 mins read
Ethereum Forms A Bullish Pattern – Expert Reveals Short-Term Price Target

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Ethereum has been trading below the $2,800 mark for the past two weeks as selling pressure at this critical level continues to exhaust bullish momentum. Investors remain cautious amid heightened volatility, fearing that Ethereum could extend its losses if it fails to reclaim key levels. Despite the uncertainty, some analysts see a potential breakout on the horizon.

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Top crypto investor Carl Runefelt shared a technical analysis on X, revealing that ETH is currently trading within a 4-hour symmetrical triangle. This pattern suggests that a decisive move is coming, and if Ethereum manages to break out to the upside, it could reclaim key supply levels and push toward $3,000. However, if ETH fails to hold current levels and breaks down from the triangle, further declines could follow.

Ethereum has struggled to gain momentum compared to Bitcoin and some other altcoins, raising concerns about its relative weakness in this cycle. Traders are closely monitoring price action, looking for confirmation of the next major move. Whether ETH will break out or see further downside remains uncertain, but the next few trading sessions will likely determine its short-term trajectory.

Ethereum Price Testing Crucial Supply

Ethereum is attempting to push above the $2,700 mark and hold it as support to confirm the start of a recovery phase. However, the real challenge lies ahead, as the key levels to reclaim remain between $2,800 and $3,000. Analysts warn that if ETH fails to recover these critical supply zones soon, a deeper correction could follow. The market is currently waiting for confirmation in either direction as Ethereum struggles to gain bullish momentum.

Carl Runefelt shared a technical analysis highlighting that ETH is trading within a 4-hour symmetrical triangle. This pattern signals an impending breakout, though the direction remains uncertain. Runefelt states that if Ethereum manages to break out to the upside, the immediate target will be the $3,000 resistance level. A breakout above $2,800 would strengthen the bullish case and signal a potential reversal of the recent downtrend.

Ethereum trading in a 4H symmetrical triangle | Source: Carl Runefelt on X
Ethereum trading in a 4H symmetrical triangle | Source: Carl Runefelt on X

Ethereum has been trading below $3,000 since early February, with selling pressure preventing a breakout. Investor sentiment remains mixed, as some expect ETH to reclaim its bullish trend, while others fear further downside. Volatility remains a major concern, and traders are looking for technical signals to anticipate the next move.

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Ethereum Historical Indicator Flashes A Long-Term Buy Signal – Is History Repeating?

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The coming days will be crucial for Ethereum as it tries to regain strength. If ETH successfully reclaims the $2,800 mark soon, a bullish breakout into the $3,000 zone becomes inevitable. Traders are closely monitoring price action, looking for confirmation of the next major move. Whether Ethereum will reclaim its bullish momentum or face another leg down remains to be seen.

ETH Price Action Details: Technical Levels

Ethereum is trading at $2,750 after days of attempting to reclaim the $2,700 level. Bulls are fighting to hold this critical support, as maintaining it could provide the momentum needed for a breakout. If ETH holds above $2,700 and manages to push past the $2,800 mark, it could trigger a bullish surge into higher levels, with $3,000 being the next major target. A move above this level would confirm a reversal of the recent bearish trend and strengthen investor confidence.

ETH Trying to Hold $2,700 level | Source: ETHUSDT chart on TradingView
ETH Trying to Hold $2,700 level | Source: ETHUSDT chart on TradingView

However, uncertainty remains as selling pressure continues to weigh on ETH. If the price fails to hold above $2,700, bears could regain control and drive the price lower. A breakdown below this level would likely lead to further selling pressure, pushing ETH toward lower support zones. Investors are closely watching for a decisive move, as failure to maintain current levels could result in more pain for holders.

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Avalanche Holds Key Demand Zone – Analyst Sets $30 Target If Momentum Holds

Avalanche Holds Key Demand Zone – Analyst Sets $30 Target If Momentum Holds

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The next few days will be critical in determining Ethereum’s short-term trajectory. A successful reclaim of $2,800 would pave the way for a bullish recovery, while losing $2,700 could lead to a deeper correction. Traders remain cautious, waiting for a clear signal before making their next move.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

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To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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