CandleFocus

Ethereum (ETH) Eyes $2,800 Target as Traders Go All-In

Author: Content Editor
Ethereum traders are becoming more optimistic about the altcoin's price and are betting on a significant recovery. The surge in high-leverage positions and the drop in the Estimated Leverage Ratio (ELR) on September 15 indicates a shift in market behavior. Some analysts believe that the recent low in the ETH/BTC ratio suggests that Ethereum may have reached its bottom. The current positive Funding Rate and the formation of a bullish falling wedge pattern on the daily chart further support the optimistic outlook. The next target for Ethereum could be around $2,744, with a potential high of $2,918. However, if bears regain control, the price could fall to $2,114.

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