Skip to main content

Ethereum Poised For Major Liftoff: ETH Entrance Into This Key Zone To Trigger $18,000 Rally

Ethereum continues to make waves in the broader cryptocurrency sector, even with its price falling below the $2,700 level once again as Thursday drew to a close. In recent weeks, ETH has shown notable bullish action, and several crypto analysts are highlighting its potential for a huge upward move toward higher levels in the short term.

Crucial Zone To Lead Ethereum To A New Peak

Given the current market weakness, Ethereum has lost some of its upward momentum after facing resistance at $2,800. Despite this brief pullback, ETH’s recent trend is pointing to a major rally, indicating an extension of the ongoing uptrend.

A seasoned crypto expert on the X platform, Trader Tardigrade, examining the price action, has forecasted a surge to a new all-time high. According to the technical analyst, Ethereum is currently navigating a critical technical zone that may serve as the impetus for one of its biggest rallies ever.

Examining the chart, this crucial zone is referred to as the Impulsive Waves zone. The expert is confident that ETH may be gearing up for a powerful surge to a new peak, as this zone has historically preceded massive upward breakout moves. 

Ethereum

Following a robust recovery in the last cycle, defined by a huge drop and a swift rebound, the expert claims that ETH is now entering the impulsive waves zone. Since the impulsive waves zone is known for its notable bullish influence on price, its recent emergence implies that ETH’s next major move might already be in motion.

With momentum building and Ethereum challenging key resistance levels, Trader Tardigrade foresees a substantial upward move to the $18,000 milestone, representing a nearly 700% rally from current price levels. The chart shows that the altcoin is likely to reach this untouched level by the second half of next year.

Is ETH Taking Over The Crypto Market?

Trader Tardigrade’s forecast could be backed by the fact that the market is slowly shifting towards an Ethereum season. A look at the ETH/BTC chart reveals that Ethereum is gaining bullish momentum as the pair rebounds from its monthly support level of 0.018.

Additionally, ETH’s price is forming a Bull Flag formation on the daily chart. A bull flag formation is a technical pattern that typically precedes a continued upward trend, suggesting that the altcoin’s bullish run is not yet over. When ETH breaks out from the bull flag pattern, the expert hints at a huge spike in price to the $4,000 mark. 

Crypto analysts like Javon Marks have predicted a sustained uptrend after hitting this key level last seen in December last year. As indicators align toward a rally, Javon Marks believes the next target for the altcoin is $4,811. The expert anticipates another +78% upside from this zone, pushing ETH to $8,500 and beyond.

Ethereum

from Bitcoinist.com https://ift.tt/ipEqFKQ
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin ETFs Post Second Straight Week Of $500 Million Outflow — Details

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...
Post a Comment
Read more

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

OpenSea Dodges A Bullet As SEC Drops Investigation—Details

In a move that many in the crypto industry view as a positive signal, the US Securities and Exchange Commission (SEC) has officially discontinued its investigation into OpenSea, the leading NFT marketplace. This decision concludes months of uncertainty regarding the regulatory status of NFTs and their classification under US securities laws. SEC Decision Signals A Shift On February 21, 2025, Devin Finzer, the CEO and co-founder of OpenSea, said the SEC will not take any enforcement action against the firm. This comes following the August 2024 Wells Notice to OpenSea issued by the SEC, which indicated the possibility of legal action on alleged unregistered securities offenses. The outcome of this case suggests a possible shift in the way authorities handle NFTs, therefore affecting the whole scene of digital assets. For the industry, this outcome has been seen as a major turning point. Though they are in rivalry with OpenSea, Chris Akhavan, the Chief Business Officer of Magic Eden,...
Post a Comment
Read more