Ethereum

bullish

Strong

Captain

Gains

<ul class="wp-block-list">
 <li>Ethereum breaks out from a long-term triangle, eyeing a 55.56% rise to $5,220 in the coming months.</li>  
 <li>Strong bullish momentum continues, with resistance ahead at $3,300, targeting $5,220 as the next milestone.</li>  
 <li>Support zones at $2,780-$2,900 could prevent significant pullbacks, ensuring continued upward momentum for Ethereum.</li> 
</ul>  
<p>Ethereum (ETH) broke out of a descending triangle formation and is still on the rise. With its current price of <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">$3,299.22</a>, Ethereum has increased 3.64%, indicating a consistent increase in recent sessions. The <a href="https://cryptonewsland.com/xrp-breaks-triangle-cme-listing-boosts-price/" target="_blank" rel="noopener noreferrer nofollow">breakout from the long-formed triangle pattern</a> suggests a potential rally ahead.&nbsp;</p>  
<p>As the price moves beyond the $3,000 level, the next target could reach up to $5,220, representing a 55.56% increase from the breakout point. According to crypto analyst Captain Faibik, this breakout marks the start of Ethereum's party, with midterm targets pointing towards higher levels.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoFaibik/status/1856170307951726834
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</figure>  
<h2 class="wp-block-heading" id="h-bullish-momentum-follows-breakout-pattern">Bullish Momentum Follows Breakout Pattern</h2>  
<p>Recent price movements for Ethereum show bullish momentum whereby in Early 2024, the asset was worth less than $2,000; by April, it had risen to almost $3,800. However, volatility increased in mid-2024, with Ethereum struggling to maintain levels above $3,600.&nbsp;</p>  
<p>From July to October, Ethereum consolidated within a descending triangle pattern, testing both resistance and support multiple times. Eventually, the breakout occurred in November, propelling Ethereum beyond the $3,000 level, and marking a crucial shift in market sentiment.</p>  
<p>Captain Faibik points out that the breakout aligns with the recent upward trend seen in November. As a result, the <a href="https://cryptonewsland.com/bitcoin-diamond-bottom-pattern-hints-at-explosive-move/" target="_blank" rel="noopener noreferrer nofollow">market sentiment has turned bullish</a>, with many traders eyeing a target of $5,220. This potential increase would signal a massive 55.56% gain from the breakout point.</p>  
<h2 class="wp-block-heading" id="h-key-levels-to-watch">Key Levels to Watch</h2>  
<p>Ethereum’s current price action suggests continued bullish movement. The next key resistance is just above $3,300. If Ethereum surpasses this level, it could continue its rise toward $5,220. On the downside, support lies around the $2,780 and $2,900 areas, which previously acted as key consolidation zones. If Ethereum pulls back, these levels will be crucial in maintaining bullish momentum.</p> 
<p>The post <a href="https://cryptonewsland.com/ethereums-bullish-surge-aiming-for-55/" rel="noopener noreferrer nofollow">Ethereum’s Bullish Surge, Aiming for 55% Gains After Triangle Breakout</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum’s Bullish Surge, Aiming for 55% Gains After Triangle Breakout

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