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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Recently, the Ethereum (ETH) market performance has been remarkable. After a brief slump, the ETH price has once again shown strong rising momentum.
From a technical analysis perspective, the price of ETH has successfully broken through the upper boundary of the previously formed ascending channel, which provides strong support for the bulls. At the previous support level of the $3400-3500 range, the price of ETH completed a good pullback and then continued to rise.
Currently, ETH has reached the 4000 dollar mark, which is an important psychological level. However, the real key resistance level is around 4100 dollars. If it can effectively break through this level, ETH is likely to start a new round of pump, and the next important target range may be between 5500-6000 dollars.
It is worth noting that Ethereum Classic (ETC) has also shown a positive trend. ETC has successfully broken through the upper edge of its adjustment channel, which indicates that there may be stronger upward momentum in the future. However, ETC still faces a key resistance level at $40, and only by breaking through this level can it open up new upward space for the price.
Overall, the current cryptocurrency market shows a clear bullish tendency. Investors should closely monitor the breakthrough of key resistance levels while also being wary of potential pullback risks. In this market filled with opportunities and challenges, maintaining rationality and caution is crucial.