Ethereum’s Large Consolidation Trend Points To Possible Price Explosion To $8...
Although Ethereum is currently up by about 46% from the starting point at the beginning of 2024, December has been underlined by a notable correction. This correction saw Ethereum declining noticeably from a $4,000 price point in the middle of the month, and it now finds itself consolidating below $3,400. Crypto analyst Trader Tardigrade recently shared a bullish outlook for Ethereum in light of this consolidation. Particularly, the analyst has projected a surge to $8,000 sometime in 2025. Historical Pattern Says Bullish Trajectory For Ethereum Trader Tardigrade, known for identifying....
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ETH/USD. Ethereum’s price is at the level of convergence for large trading volumes. The current price is the most profitable for the bulls. Usually it is in points like this one, where the market chooses the future trend. That happens, because the demand outweighs the supply: obviously, everyone wants to win. If Ethereum’s price holds at the level of $11.5 and forms a turn to decline, there will be a good probability of a downward trend. But if the bulls hold that level, the current upward trend will continue, until at least the end of the rebound at $12. The key level for the upward....
Ethereum’s price is continuing its upward trend. Whether that short-term trend is a wave within a flat will be apparent after its structure is completely formed. What is the most likely scenario for a turn to decline? After fortifying at a key level of $10.4, Ethereum’s price has formed an upward impulse. The structure of the downward trend was broken at that point, and the downward movement was consequently a rebound. There is still a chance of the current upward trend turning out to be a wave within a flat. But for that to be true, the structure of the trend has to be disrupted. If a....
Ethereum’s price undergoes a continued decline and has now reached the medium-term resistance line. The market will now choose new direction. Will the downward trend continue? Ethereum’s price is at an important level of convergence for large trading volumes. The further movement structure will determine if this level is the peak of a rebound within the continued downward trend, or a turning point before growth. If Ethereum’s price manages to hold at the current level and form a turn, then we should expect at least a more deep upward correction.
Ethereum’s price is at a peak of the structure which will be decisive for the further trend. Which direction will Ethereum’s price choose? Will there be a turn to decline? Ethereum’s price is at a peak of a rebound towards the upward trend. That is also a turning point for the continuation of the medium-term downward trend. The way the price behaves in the near future will determine the outcome. If Ethereum’s price manages to fortify at that level, it will indicate that the bulls are a minority. In that case, and if the price forms a turnaround structure, the downward trend will be likely....
The downward trend on Ethereum’s market has lead the price to an important medium-term resistance. The trend is most likely to change at that point. Is the current trend nearing its end? Ethereum’s price has stopped at a long-term level, which already indicates that there are a number bulls out there. But whether the nature of those purchases is long-term or short-term will only become clear after analyzing the further structure of Ethereum’s price. For the formation of a short-term upward trend to begin, Ethereum’s price will have to fortify at the largest accumulated trading volume mark,....