Ethereum still shows signs of upward speed if you know where to watch. The leading altcoin is now in a haussey expansion phase, with analysts that predict it The price may increase previous key resistance levels in the coming weeks. According to crypto analysts Ted pillows, Ethereum has entered a raisy expansion phase and is on the verge of a Major Rally that can push it in addition to $ 4,000 in the short term and to new holidays in March.
Bullish Expansion sets Ethereum to $ 4,500 in February
According to TedEthereum has switched to its expansion phase after completing two previous phases of accumulation and manipulation. These phases were mapped on 3-hour candlestick time frame and developed over the past two weeks of January.
The accumulation phase was marked by Ethereum trade within an interval between the upper and lower ends of $ 3,520 and $ 3,185 respectively. After this accumulation phase Ethereum entered a short but volatile manipulation phase Between January 27 and January 29 before he eventually recovered at the $ 3,000 brand.
On January 30, Ethereum officially broke out of the manipulation phase and marked the beginning of the expected expansion phase. Ted believes that this breakout is an important turning point, as it signals the beginning of a strong rally. With this expansion phase in mind predicted crypto analyst Ted that the Ethereum price will rally to At least $ 4,500 in February Before he sets his attraction at a new highest time in March.
Remarkable is the analyst’s prospects based on a combination of breakout From technical patterns and marketing element, and he noted that Ethereum’s undervaluation is now emerging.
ETH’s breakout hangs on the price mark of $ 4,000
On one Separate technical analysisTed emphasized that Ethereum is breaking out from a downward wedge pattern on the daily candlestick. Based on this pattern, he projected that ETH could reach $ 4,000 within eight to ten days after the outbreak was fully confirmed. His forecast is founded in Ethereum’s historical price movements, especially with reference to two similar outbreaks by 2021 and 2024, which both resulted in a 40% wave within the same time frame.
In another analysis, Ted noted it Ethereum forms higher lowness within the longer time frame. He emphasized that the $ 4000 mark recovery is crucial right now, as it would pave the way for Ethereum to focus on new peaks. According to his forecasts, a decisive interruption above this key level will set the stage for Ethereum to reach between $ 9,000 and $ 10,000 interval over the next three to four months.
Apart from technical indicators, pillows pointed to the potential influence of Donald Trump’s commitment to Ethereum. He suggested it Trump’s continued accumulation by ETH can further operate rally. Such a accumulation is Latest acquisition of ETH $ 10 million by ETH by World Liberty Financial, a crypto company connected to Donald Trump and some of his family members.
At the time of writing, Ethereum is traded at $ 3,261.
Trained Image from Adobe Stock, charts from tradingview.com
