On a surge above $2,820, the tasks were carried to realization, after weeks of lying in wait just below the Metal of the Gods. Traders are crossing fingers for a breakout, seeing the power of price-breaking boundaries beyond the present in forging an airwave into uncharted realms for ETH. Global anxieties are going into the background as whispers of a US-China trade deal grow louder on the adrenaline of risk assets, which could lift Ethereum to another level.
Ethereum is coiling up like a spring on the very edge of its ascending channel. For the crypto analyst M-log1, this moment is of utmost importance: ETH is confined and yearning to break free. Will the coins shatter the ceiling and surge, or will they stay trapped in that cacophony of their dance? The breakout defines it; we expect vehicle shuffle to the sidelines, not skyward sprint.
Ethereum stands at the edge of the cliff, waiting for a strong push into its dazzling upward phase around $3,000 or to sink back into the dark abyss. The price must go up with a volume that louder than thunder to nail down that declaration of bulls ready to stampede. Could Ethereum breakout from the ascending channel’s ceiling to fuel a strong rally that will echo in the crypto world? Till then, the markets are caught with bated breath in the drumbeat of the dance of Ethereum.
Ethereum Holds The Key To Altseason Ts Bulls Eye Breakout
Ethereum is under the spotlight. Will altcoins catch fire? While Bitcoin continues to hold the crown, the next act for Ethereum, breaking past $2,800, has the potential to release an avalanche of altcoin gains. The hype keeps building, prices climb, and ETH is sitting just shy of resistance, ready to spring. Is it time for launch into altseason?
The bulls are flexing their muscles once again, but to win this, it needs to destroy its present cage. According to M-log1, ETH is stuck within an ascending channel, an infamous pattern known for testing patience sideways prior to the ultimate breakout or breakdown. “To move seriously upwards, breaking out of this channel is a must.” Failure to do so might result in a return down for a second try at the lower band. It is not a solid assumption but one to keep an eye on.
The charts of Ethereum are singing a bullish ballad! Rising moving averages work like a solid floor and shall catch any dips. If bulls continue their march with lines holding, expect a breakout party.
Ethereum flirting with $2,800 is more than price action: it’s the coiled spring set to pump alts into the stratosphere. If it manages to take out resistance and shatter the channel resistance, the landscape will explode with opportunity. Until then, however, all eyes will remain glued to the sun itself, Ethereum, whose next move shall seal the fate of the entire ecosystem in the summer.
Ethereum Breaks Above Resistance But Faces Retest At Key Level
Somehow, the resurgence around the $2,800 mark after a long-term resistance since early May just saw a rejection from the $2,834 zone. So one is compelled to ask, has the ultimate breakout come, or is it just a cruel head fake for ETH enthusiasts? The daily chart urges caution, indicating a possible retest as the price battles this stubborn resistance.
The bulls of Ethereum may have now met their crucial test set at the $2,750–$2,800 price range. Acting as a strong resistance area now is the 200-day SMA looming at $2,654.52. If and when broken, ETH will have entered a new era of aggressive bullish dominion.
There is the catch to it: ETH has already blasted past crucial moving averages of 50 days ($2,333.32) and 100 days ($2,085.42), indicating a strong push upwards. Has ETH bullishly picked up enough energy to breach the $2,800 wall and continue to charge higher? That shall soon be known in the coming days.
Panic is in the air for Ethereum with a nail-biting drop. Having rebounded successfully off the 200-day SMA, Ethereum breaking above the $2,800 mark can trigger a rally towards the eye-watering $3,000. Stumble though, and a free fall race back to the $2,600-$2,650 safety net can occur. The next few candles are going to be telling.
ETH is knocking at the door of resistance with volumes surging in tandem, much like an approaching storm. An explosive breakout is expected to be truly exhilarated. Observe that only a sustained flight higher than this level will confirm the bull run. The forthcoming candles will paint the story of ETH; will it climb or start retreating?
Featured image from Dall-E, chart from TradingView
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