Ethereum Price Surpasses $2,800, Potential Rally Toward $10,000
Ethereum has surpassed $2,800 for the first time in four months, briefly reaching $2,870 before a slight pullback. Key points include:
- Crypto strategist Crypto Patel predicts a potential rally toward $4,000 based on an 8-hour chart.
- A long-term two-week analysis indicates a bullish setup with a target above $10,000, suggesting a 438% upside from current levels.
- Ethereum had been trading between support at $2,366 and resistance around $2,734 before breaking out above $2,800.
- For sustained upward momentum, Ethereum must maintain support above $2,750 and turn the recent resistance into support.
- Currently, Ethereum is down by 9.6%, returning to its previous consolidation range.
- Failure to hold above $2,500 could lead to further declines toward $2,366.
