Ethereum Bullish Breakout Confirmed – Top Analyst Predicts $3,400 Target

Quick Summary:

A close below $2,600 would invalidate the symmetrical triangle’s bullish thesis and could lead to further downside, putting a dent in the optimism surrounding ETH’s future price action.  Related Reading: XRP Network Activity Surges As Price Seeks To Break $0.55 Resistance However, if Ethereum holds above this level, it could signify that the breakout is intact, setting the stage for a strong rally as the broader market prepares for a bull run.

Related Reading: Solana Could Go Parabolic’ Starting Today – Analyst Sets $370 Target With the broader crypto market gaining momentum, Ethereum is positioned to continue climbing, and investors are closely watching for confirmation of support at this key level.

The analysis features a price chart that reveals Ethereum breaking out of a symmetrical triangle on the daily timeframe—a classic bullish pattern.  If price action holds, it could send ETH to $3,400, according to Runefelt’s analysis.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Ethereum Breakout Ethereum Ethereum Analyst ETH Ethereum news ETHUSDT Ethereum Price action Ethereum Bullish Signal Ethereum Ethereum price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 16:30:48 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 533 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 9 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23204552

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