This Key Level Determines Path To Reach $7,000
Although Eto (ETH) has recently lost the key 3,000 US dollar threshold due to a wider range of cryptocurrency market correction, which has been upgraded by the tension between the United States and China, and the optimistic emotions of leading alternative currencies.
As of now, Ethereum has rebounded nearly 10 %, and the transaction is slightly higher than $ 2,800, which has exceeded the key level of support. This may be paved with the new record high in this bullish cycle.
Key $ 2,700: The key to ETH’s bullish structure
Throughout the process Market cycleCompared with his peers, Ethereum is struggling. At the beginning of the year, it only increased by 21 %, and it significantly lags behind other cryptocurrencies, such as Solana (SOL) and XRP, which recorded the impressive increase of 120 % and 420 %, respectively.
Nevertheless, encrypted analyst Ali Martinez Point out The Ethereum must maintain a support level of $ 2,750 to establish a foundation of potential surge to $ 6,760.
In another analysis, Martineis pointed out that if Ethereum forms a head and shoulder Should mode (a common technical chart mode), it needs to remain higher than $ 2,700 Target Reached $ 7,000.
This shows that the level of $ 2,700 is very important for Ethereum to gain new records. If these conditions are realized, it may increase by 150 %.
Another analyst called Morcryptoon warned that the market lacks a substantial structure at present, instruct A breakthrough of the local low of more than $ 2,909 will indicate a more stable price environment. He emphasized the importance of maintaining more than $ 2,236 to make more powerful recovery.
Trump’s family supports Ethereum
The Trump family is more optimistic and shows significant support for Ethereum. World Freedom Finance (WLFI) I recently purchased another 1,826 ETH, totaling about 5 million US dollars.
According to lookonchain dataThe total investment of WLFI is 61114 ETH, the average price is 225 million US dollars, and the average price is 3,354 US dollars. The loss in this position is about 31 million US dollars.
In addition, Trump’s cryptocurrency companies have also transferred a large number of cryptocurrencies, including 86,296 ETH (US $ 235 million) and 647 WBTC (US $ 65.5 million), indicating that it has made strategic positioning in the cryptocurrency market.
Further strengthening the prospects of Ethereum, the recent ETF flow revealed a trend worth noting: although about 2400 BTC was sold on February 3, the ETH exchange trading fund (ETF) Saw Saw Net inflow 83.6 million US dollars.
This is from Bitcoin ETF shows that despite the recent price correction, institutional investors are increasingly confident in the future of Ethereum.
ETH’s transaction price was $ 2,819, a monthly decrease of up to 21 %. During the operating of the Bulls in 2021, the gap between its historical high reached 42 % was $ 4,878.
Charts from Dall-E’s characteristic images, tradingView.com
