CandleFocus Ethereum Price Analysis: Bulls Eye $3,000 as Next Target as ETH Charts 14% Weekly Gains
2024-09-23
Author: Content Editor
Ethereum has experienced a surge in demand near the $2.1K support zone, resulting in a bullish retracement. The price has reclaimed the middle threshold of the descending channel, suggesting the potential for further gains towards $3K. However, Ethereum is approaching a crucial resistance at $2.8K, and the price action at this level will determine its medium-term direction. On the 4-hour chart, Ethereum saw a strong surge from the $2.1K support zone and is attempting to break through the $2.8K resistance. Insights from the Binance liquidation heatmap indicate that the $2.8K level contains significant liquidity, making it a key target for the market. A breakthrough at this level could signal the continuation of Ethereum's upward trend.
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