Ethereum

bullish

Bitcoin

Momentum

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Ethereum (ETH) may soon hit $3,000 due to increased investor interest and a bullish trend.</li> 
 <li>ETH’s Open Interest has risen by 5.5%, indicating a higher level of trading activity.</li> 
</ul> 
<p> Ethereum (ETH) may soon reach $3,000, according to recent market trends. This prediction is based on a 5.5% increase in ETH’s Open Interest, indicating a surge in investor interest.</p> 
<h2 id="crypto-market-momentum">Crypto Market Momentum</h2> 
<p>On August 14, the overall cryptocurrency market experienced a significant upswing. This was largely due to a 4.5% price surge in Bitcoin (BTC). In the midst of this upward trend, Ethereum (ETH), the world’s second-largest cryptocurrency, saw a significant price surge and breakout.</p> 
<h2 id="ethereum-s-bullish-trend">Ethereum’s Bullish Trend</h2> 
<p>Expert technical analysis suggests that Ethereum looks bullish. This is due to a recent breakout of an ascending triangle price action pattern in a 4-hour timeframe. However, this breakout occurred near a strong support level of a rising trendline. Historically, whenever ETH has reached this trendline, it has experienced a significant rally. Given the current bullish sentiment, it is highly likely that Ethereum could reach $3,000 soon. If this momentum continues, Ethereum could potentially hit the $3,200 mark.</p> 
<p>At the time of writing, Ethereum was trading below the 200 Exponential Moving Average (EMA) in a 4-hour timeframe. Following the breakout, ETH’s Open Interest increased by 5.5% in the last 24 hours. This indicates increased interest from both investors and traders. At the time of writing, Ethereum was trading near the $2,750 level, experiencing a price surge of over 4.5% during this period.</p> 
<p>However, its trading volume decreased by 24%, indicating lower participation from traders and investors. Major liquidation levels were at $2,670 on the lower side and $2,760 on the upper side, according to on-chain analytic firm Coinglass.</p> 
<p>If the bullish sentiment continues and the price rises to the $2,760 level, nearly $34.75 million of short positions will be liquidated. Conversely, if sentiment shifts and the Ethereum price falls to the $2,670 level, nearly $430 million of long positions will be liquidated.</p>

Ethereum Poised to Reach $3K Subject to One Pivotal Factor!

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CoinEagle.com

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