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- Ethereum’s recent bounce from trendline support signals a possible rally toward new all-time highs.
- Price targets for Ethereum have risen to $2,853.49, $3,023.68, and $3,222.20, hinting at future growth.
- The market is closely tracking Ethereum’s movement above key support levels for signs of a breakout.
Ethereum (ETH) is now recovering as it bounced from an important daily trendline support. Recently, Rose Premium Signals highlighted that, if the structure remains, Ethereum could see a significant rally. After this bounce, traders are closely following it, waiting for the market to confirm a possible rally.
Since the trendline is supporting the price, the target prices for Ethereum have moved up to $2,853.49, $3,023.68 and $3,222.20. These levels suggest that Ethereum could soon set a new ATH. The market is gradually turning more optimistic about the future prices of cryptocurrencies.
Ethereum’s chart indicates strong upward movement, supported by the current bounce. Support from the trendline is still significant, so as long as it remains, the chance for a breakout is high. If its market support holds, Ethereum has a chance to increase past the resistance level.
Source: X
Ethereum Breakout Potential
Activity in the market is increasing and Ethereum’s recent performance indicates that it might soon break out. Both investors and traders are tracking the trendline to see if it continues to hold. A break of resistance by Ethereum could signal that a bull market is returning and that the coin could reach new all-time highs.
As of press time, ETH is trading at $2,504.84, and its trading volume is $31.57 billion in the last 24 hours. In the past day, this coin has fallen by 0.08% and within the past week, it has decreased by 3.81%.
ETH moving towards important resistance points is creating more opportunities for traders. Analysts have noticed the toughness of cryptocurrency and are now seeing it as likely to hit new records. In the coming days, ETH success will be determined by whether it holds above the important support trendline. If the breakout happens, the prices may go up sharply.
Ethereum’s success in the future largely depends on the movement of its price. The current technical setup allows ETH to break through its existing range and hit new ATHs. If the trendline continues, ETH could reach its highest price yet, with possible targets of $2,853.49, $3,023.68 and $3,222.20, which is positive for the cryptocurrency market.
