Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Crypto analyst Crypto Bullet has raised the possibility of the Ethereum pricesurging by 38% soon. He alluded to the 50EMA as the only thing holding ETH from witnessing this price surge, but suggested that it could change soon with a breakout on the horizon. Ethereum Price Eyes 38% Jump To $3,500
In an X post, Crypto Bullet predicted that the Ethereum price could record a 38% surge to $3,500. This came following as he highlighted the ongoing battle between ETH and the 50EMA, noting that this indicator was the only thing holding the altcoin back from a parabolic surge. The analyst added that on average, a breakout results in a 38% pump, which puts Ethereum exactly at $3,500. Related Reading Pundit Says Do Not Ignore Ethereum Amid New All-Time Highs In Major Metric 1 day ago
As NewsBTC reported, Crypto Bullet also recently predictedthat the Ethereum price could rally to $3,300 as a Morningstar Candle pattern formed. Back then, he noted that ETH was facing tough resistance at $2,500 but affirmed that the resistance would be broken in due time. He indicated that a breakout from that resistance will usher in the rally to $3,300. Source: Crypto Bullet on X
The Ethereum price has now broken above the $2,500 resistance, which provides a bullish outlook for the largest altcoin by market cap. Based on Crypto Bullet’s prediction, a rally to $3,300 may already be underway, which could then lead ETH to the $3,500 target. In a more recent X post, the crypto analyst commented on the recent break above $2,500.
He statedthat the Ethereum price is now trying to break the 200-day MA, which is between $3,000 and $3,300, for the fifth time. He indicated that a breakout above the range is likely to happen on this fifth attempt. His accompanying showed that ETH could rally to the $4,000 level if a successful breakout occurs. ETH About To Begin A New Bull Run
Crypto analyst Trader Tardigrade predictedthat another bull run is about to start for the Ethereum price. He noted that ETH’s daily candle closed above the resistance level at $2,650yesterday and also opened above this resistance level today. The analyst added that ETH is now moving above it, which signals the start of a new bull run. Related Reading Ethereum Price Eyes 38% Jump To $3,500 As 50EMA Swims Into View 5 hours ago
His accompanying chart showed that the Ethereum price is breaking out of an ascending triangle, which could send the altcoin above the psychological $3,000 level. Crypto analyst Mikybull Crypto also declaredthat Ethereum’s breakout will be huge, with ETH still maintaining its current range between $2,400 and $2,600.
At the time of writing, the Ethereum price is trading at around $2,670, up over 7% in the last 24 hours, according to datafrom CoinMarketCap. ETH trading at $2,691 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com