CandleFocus Bearish Sentiment Hits Ethereum Hard: Is a $3,700 Target Still Within Reach?
2024-11-01
Author: Content Editor
The Ethereum (ETH) price has been holding strong at a key support line, suggesting the possibility of bullish momentum ahead. Analysts predict a breakout in November or December, with a target of $3,700. Ethereum has been confined to a horizontal resistance zone of $2,770 to $2,870 for the past three months, but breaking through this range could lead to significant upward movement. The 100-day EMA and strong support at $2,770 provide a solid foundation for Ethereum's potential upward trajectory. However, in the short term, Ethereum experienced a 4.86% drop in price and declining market sentiment.
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