Ethereum Price Expected to Rebound Above $2,600 According to Analyst
The Ethereum price shows potential for a trend reversal, with technical indicators suggesting a breakout. Analyst David Perk forecasts ETH could rise to $2,600 in the current bull cycle.
Key Insights from Technical Analysis
- Perk's analysis indicates if ETH respects its daily Continuous Linked Settlement (CLS) and liquidity zone, it could target $2,055 before reaching $2,600.
- CLS represents "smart money" across markets, processing over $6.5 trillion daily, aiding in predicting price changes and liquidity shifts.
- A marked green area on Perk’s chart indicates ETH's liquidity zone, with daily CLS acting as support and monthly CLS as a resistance level.
Falling Wedge Pattern Breakout
- Analyst Marzell predicts a bullish outlook after ETH broke out of a Falling Wedge pattern around $1,991, indicating strong momentum.
- This breakout suggests a potential rally to $2,821, representing a 41.69% increase from the breakout point.
- Currently, Ethereum is trading at $2,008, having risen 3.7% in the last 24 hours.
