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Encryption Titan from encryption It provided an upward look at the ETHEREUM price, stressing that ETH did not die. The analyst highlighted a bullish style, indicating that the second largest encryption in the market may soon have another leg until the upward trend.
Another leg analyst to Ethereum on the horizon
in X postTitan of Crypto stated that Ethereum did not die and hint that another leg was on the horizon of ETH. He reaffirmed that ETH is far from death from a technical perspective. Then the analyst indicated that the price of Ethereum is still applying within a Expansion.
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Titan of Crypto also revealed that the price of ETHEREUM has reconsidered the re -download zone, which is the primary area where professionals look at Eth Long or Back. He pointed out that this is the place where smart money is entering, indicating that Ethereum can recover from that region. The planned plan showed this Ethereum can gather To between 6,129 dollars and $ 6589 as it rises from this re -download zone.
Macro display on ETH
In a previous analysis, Titan of Crypto also made an update of Macro’s display on ETAREUM. He pointed out that ETH closed a monthly candle outside Sorry for a 7 -year height. The analyst added that the sure breach requires the next monthly proximity to stay outside this sponge. Conservation with this, select three possible eTH scenarios.
For the first scenario, the analyst predicts the reintegration that maintains the main support levels, which leads to the bounce of pushing the eth back inside the counted and leads to the abolition of the penetration. In the second scenario, Titan of Crypto states that it can be there Triple TOP formation In any support it proves, but ETH does not re -test the vicinity only before rolling to a long -term top.
Meanwhile, note that for the third scenario, ETH confirms a deeper correction if support fails. However, at this stage, Titan of Crypto believes that the first or second scenario is the most likely.
The biggest obstacle on ethereum
Encryption Ali Martinez I mentioned in the X publication that the largest obstacle for ETHEREUM is $ 2,460, with 10.95 million investors on 64.52 million ETH. The analyst emphasized that the penetration through this level will reinforce the ups of the ETH.
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Smart funds seem to be already interfering to help Ethereum exceed the critical level of resistance. Martinez revealed in another x publication Encryption whales I bought 1.10 million ETH in the last 48 hours. These whales are known to accumulate actively before increasing the price, indicating that one may be on the horizon of ETH.
At the time of this report, the ETHEREUM price is traded by about $ 2,200, a decrease of more than 4 % in the past 24 hours, according to Data From Coinmarketcap.
Distinctive image from Unsplash, Chart from TradingView.com
