Ethereum Price Could Reach $2,700 as Wyckoff Accumulation Nears Completion
Crypto analyst Incognito forecasts that the Ethereum price could rise to $2,700, driven by near completion of Wyckoff accumulation. Key points include:
- Current market performance shows ETH's market share at new lows.
- Breakout targets set at $2,499 and $2,700.
- Warning of potential seller traps; profit-taking advised.
- ETH may benefit from Bitcoin's attempt to reclaim $90,000.
- Positive correlation between Bitcoin and Ethereum could lead to local highs for ETH.
- Analyst Ali Martinez notes a TD Sequential buy signal indicating momentum shift.
- For a new bull rally, ETH must break resistance at $2,330, where significant selling pressure exists due to 12.62 million addresses buying 68.63 million ETH.
- Analysts Titan of Crypto and Hardy suggest ETH may have bottomed out, with potential future targets of $4,200 and $4,300 respectively.
- Crypto Patel predicts an ETH price range of $6,000 to $8,000 by year-end if it reclaims the $4,000 level.
As of now, Ethereum is trading at approximately $1,639, reflecting a nearly 2% increase in the last 24 hours.
