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According to X Post by Crypto Analyst Cryptogoos, ETHEREUM (ETH) may approach the end of the bear trap. The analyst predicts that the cryptocurrency can exceed the last level of $ 4,000, which may look forward to a new rise (ATH) of $ 10,000.
Ethereum explodes from the bear trap?
Ethereum seems to be free to free from a potential bear trap, as the second largest encrypted currency in the market continues to trade in the range of $ 2000 after holding a strong sale since December 2024.
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For beginners, the bear trap indicates a wrong signal that makes it look like the price of the original continues to decline, which leads to the abbreviation of merchants – only for the price to be reflected suddenly and height, causing these short situations to liquidate.
In a newly postponed, Cryptogoos stressed that ETH may come close to the end of this trap. The analyst shared an ETH weekly scheme that explains how the encoded currency can be on edge From the reflection of the trend after months of uncompromising sales.
The Merlijn Crypto fellow chanted Cryptogoos, while highlighting the similarities between the current price measures of ETH and the patterns seen in 2020.
The Crypto Rekt Capital investor has invested, noting that Ethereum is being traded within the “historical demand zone”. Investor stated:
If the price can generate a strong reaction enough here, then #Eth It will be able to restore the macro group from $ 2196 to $ 3900 (black). If ETH does this before the monthly closure in March, this negative aspect of the entire $ 2,200 will end as a negative fuse.
Eth is about to get out of the accumulation stage
TED attesting encoding suspension shared a scheme indicating that ETH has separated from the short -term accumulation stage. He explained that the digital assets have been in accumulation since its decrease from 3000 dollars to 1800 dollars. TED added that continuous price procedures exceeding $ 2000 can ignite a large price rav.
Famous analyst Dan Chaviro revealed that he recently converted some of his long -term life (BTC) to ETH for “for the first time in years”. He cited the current trading pair of ETH/BTC as an attractive preparation for risks/bonus.
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In addition to conducting upward prices, many technical indicators indicate a possible ETH gathering in the short term. It is worth noting that the ETH (RSI) is recently He hits The lowest multi-year level-a sign that the reflection of trend can be imminent.
but, to rise ETH reserves on encryption exchange remains a warning point, as they can suppress the bullish momentum if investors choose to sell. At the time of the press, ETH is trading at $ 2029, an increase of 7.8 % in the past 24 hours.
A distinctive image of Unsplash, X and TradingView.com plans
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