Ethereum Analyst Predicts Bullish Surge Amid ETHBTC Breakout

Crypto analyst CRYPTOWZRD shared a bullish outlook for Ethereum (ETH), emphasizing a strong daily close that indicates potential further upward movement. Key points include:

  • The ETH/BTC pair showed a strong performance, suggesting a broader bullish period for ETH.
  • ETHBTC broke out of its daily falling wedge pattern, signaling a bullish reversal.
  • $5,000 is identified as the primary daily resistance level; breaking it could lead to an impulsive rally towards $5,780 or higher.
  • $4,000 serves as critical daily support, providing a safety net for bulls.

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In his analysis, CRYPTOWZRD expects significant volatility in ETH's intraday chart and outlines two scenarios:

  • If Bitcoin pulls back toward $4,500, a bullish reversal is likely.
  • If Ethereum breaks above the $4,765 resistance, it signals a new upward leg.

He advises patience, waiting for a clear trade setup amid current market volatility.

Ethereum