CandleFocus Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation
2024-11-17
Author: Content Editor
Ethereum (ETH) has broken above the $3,000 mark, fueling optimism among traders and investors for a potential surge to new all-time highs. Analyst Carl Runefelt believes that if current momentum continues, ETH could reach $6,000 sooner than expected. The upward trajectory is supported by increasing network activity, institutional interest, and adoption of its smart contract capabilities. ETH is approaching its last major supply levels before a potential Bitcoin-like rally, with a target price of $6,000. Despite a recent retracement, ETH remains resilient above the 200-day moving average, signaling long-term market strength. The next major resistance level for ETH is at $3,450, and a successful breach could challenge its all-time high and attract more buying pressure.
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