Ethereum Price Analysis Indicates Potential Rise to $4,867
Ethereum remains below its all-time high of $4,878 for over three years, unlike Bitcoin which has surpassed various price levels. Despite this, technical analysis indicates a potential bullish movement towards $4,867 driven by several supportive indicators.
Key Points
- Ethereum is above a multi-year support trendline that has historically provided rebounds.
- Currently at the 14.6% Fibonacci retracement level from the September 2024 break above $4,000.
- Supported by the monthly 55 Exponential Moving Average (EMA), indicating long-term bullish trends.
- Trading within an ascending triangle pattern, suggesting a likely upward breakout.
- Resistance around $4,000 has been tested multiple times; a successful breach could set a target of $4,867.
- Current price of Ethereum is $2,760, reflecting a 1.1% increase in the last 24 hours.
