“Ethereum Is Not Dead”: Broadening Wedge Suggests Another Leg-Up Is Coming
07 Março 2025 - 2:00PM
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Crypto analyst Titan of Crypto has provided a bullish outlook for
the Ethereum price, assuring that ETH is not dead. The analyst
highlighted a bullish pattern, which indicates that the second
largest crypto by market cap could soon enjoy another leg up to the
upside. Analyst Hints Another Leg Up For Ethereum Is On The
Horizon In an X post, Titan of Crypto stated that Ethereum is
not dead and hinted that another leg up was on the horizon for ETH.
He reaffirmed that ETH is far from being dead from a technical
perspective. The analyst then noted that the Ethereum price is
still progressing within a broadening wedge. Related Reading:
Analyst Says You’ll Regret Not Buying Ethereum At These Prices,
Here’s Where It’s Headed Titan of Crypto also revealed that the
Ethereum price just revisited the reload zone, the prime area where
professionals look to long or buy back ETH. He remarked that this
is where smart money steps in, suggesting that Ethereum could
rebound from that zone. The analyst’s accompanying chart showed
that Ethereum could rally to between $6,129 and $6,589 as it
rebounds from this reload zone. Macro View Update On ETH In
an earlier analysis, Titan of Crypto also provided a macro view
update on Ethereum. He noted that ETH had closed a monthly candle
outside the 7-year rising wedge. The analyst added that a confirmed
breakout requires the next monthly close to remain outside this
wedge. In line with this, he outlined three possible scenarios for
ETH. For the first scenario, the analyst predicts a
reintegration in which key support levels hold, leading to a bounce
that pushes ETH back inside the wedge and invalidates the breakout.
In the second scenario, Titan of Crypto states that there could be
a triple top formation in which support holds, but ETH only retests
the wedge before rolling over into a longer-term top.
Meanwhile, he remarked that for the third scenario, ETH confirms a
deeper correction if support fails. However, at this stage, Titan
of Crypto believes that the first or second scenario is the most
likely. The Biggest Hurdle For Ethereum Crypto analyst
Ali Martinez stated in an X post that the biggest hurdle for
Ethereum is at $2,460, where 10.95 million investors acquired 64.52
million ETH. The analyst asserted that breaking through this level
will reignite ETH’s bullish momentum. Related Reading:
Ethereum Exchange Outflows Hits 2-Month High With $1.4 Billion
Withdrawn, What This Means Smart money already looks to be stepping
in to help Ethereum break past this critical resistance level.
Martinez revealed in another X post that crypto whales have bought
1.10 million ETH in the last 48 hours. These whales are known to
actively accumulate before a price surge, indicating that one may
be on the horizon for ETH. At the time of writing, the
Ethereum price is trading at around $2,200, down over 4% in the
last 24 hours, according to data from CoinMarketCap. Featured image
from Unsplash, chart from Tradingview.com
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