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Recent price movements within the last 24 hours have observed Ethereum recovering above $2,500 after a dip that brought its value down to $2,440. This is a significant adjustment from Ethereum’s rise to $2,770 over the previous week, but according to cryptocurrency analyst KledjdiCuni, it corresponds with one of the predicted price models.
Presently, the analyst’s forecast indicates a reversal into a bullish wave. In his latest update, KlejdiCuni outlined several upward targets that traders might wish to monitor if Ethereum affirms a breakout.
Accumulation And Bullish Configuration Towards $2,800 Breakout
Crypto analyst KlejdiCuni, posting on the TradingView platform, believes Ethereum may now be on the cusp of initiating a significantly larger bullish trend. According to his examination, the $2,440 area held firm as anticipated, confirming it as a robust accumulation zone.
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In the daily candlestick price graph he provided, KlejdiCuni depicted what he identifies as a bullish configuration. This formation consists of higher lows and relatively stable resistance near the upper limits. This setup closely resembles an ascending channel structure, indicating that buyers are gradually gaining control of Ethereum’s price behavior.
Ethereum’s rebound to $2,660 has established a structure that could break over the current pattern, likely towards $2,800. This aligns with the upper resistance boundary of the bullish structure, and thus, it becomes the first immediate target to observe for a breakout to elevated price levels.
Price Objectives For Ethereum
If Ethereum successfully surpasses the $2,800 resistance threshold, the bullish energy could indicate the commencement of the anticipated bullish trend, as per the analyst. In this scenario, the first primary target in this sequence is $3,300. Ethereum’s reaction in this instance would be crucial to observe, as it coincides with a resistance point in late January 2025 that ultimately descended in early February 2025. If Ethereum manages to breach this area, it would confirm a sustained buying sentiment.
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Should Ethereum sustain its upward momentum beyond $3,300, the subsequent target is set at $3,800. This level holds specific technical importance, as it corresponds to an order block from early January that led to the initial rejection when attempting to ascend towards the $4,000 price mark again. Breaking through $3,800 upward would signify that bullish sentiment has regained its hold across elongated timeframes once more.
Ultimately, if the bullish wave extends without interruption, the analyst estimates a long-term target of $4,500. This level is only a short distance away from Ethereum’s all-time high of approximately $4,878, and achieving it would represent a near-full recovery from the extended bear market. Reaching $4,500 would also position Ethereum at new price peaks for this cycle.
At the moment of writing, Ethereum is trading at $2,521, having decreased by 0.7% in the last 24 hours.
Featured image from Pixabay, chart from Tradingview.com
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