For months, Bullish Recovery ETH Break was far from reaching the $3,500 ceiling. Still, it finally crossed the steel barrier on November 25, which could be translated as a robust and bullish recovery. The recent price impulse is due to the approaching alt season and the upward trend in the Bitcoin price.
By getting breakthroughs in July to $3,500, ETH’s performance follows closely behind Bitcoin’s price increase in recent days should a new all-time high be achieved. The_MARKET_now_, TradingView statistics indicate ETH is currently at $3,490 +13% in the last week. Tell us by clicking the link.
Weekly Ethereum Price Analysis
ETH price is now moving to re-accumulate levels above $3,50. Thus, this range could be seen as the critical point for its next leg to push to $4,000 and, therefore, be considered a strategic level. The consolidation of ETH near this area is anticipated before any probable subsequent movement occurs.
The other chart demonstrates that the $3,800 – $3,900 range is another big hurdle that ETH must overcome again to reach 4,000, but it is also a prime target level for ETH to penetrate. Nevertheless, ETH needs a steady boost this week if it stays above $3,500.
Even though the ETH trajectory is deemed positive, Bitcoin’s price is getting closer to $100,000, and the macroeconomic factors that a very tight or overly relaxed U.S. monetary factor may cause instability in the market will possibly rectify its ecosystem. Investors are closely monitoring overall market developments, among which are performance. The altcoin market is another factor that heavily influences the price of Ethereum.
For Ethereum to maintain its course to $4,000, the buying pressure must remain, and the macro environment should be nurtured. Experts are still optimistic but also considering the possibility of short-term volatility.
In Summary
Ethereum (ETH) exceeded the $3,500 mark not long ago, thus giving. The bullish trend has a significant kick due to Bitcoin’s rising price and the anticipated alt season. Bullish Recovery ETH Break has gone up 13% already in the past week and is working on establishing at near $3,500, which might be a the-line catalyst for the upcoming uptrend toward $4,000. However, the upward line between $3,800 and $3,900 should be tagged as resistance. On the other hand, it might be.
Regarding Ethereum, factors include Bitcoin’s increase to $100,000 and U.S. policy that would affect Ethereum’s performance. The continuation of buying that does not cease and the ability to endure slight negatives. The macroeconomic environment equips ETH to rise further. The analysts still have a positive outlook, albeit caution about transitional volatility.
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