Summary
TLDR: Ethereum’s price broke out from long-term resistance levels, reaching nearly $3,000. Technical analysis shows bullish signs, with predictions of a new all-time high at $4,000. Analysts are positive about Ethereum’s future performance compared to Bitcoin. However, a drop below $2,700 could lead to a 20% decrease. Always conduct your own research before making financial decisions.
Key Points
1. Ethereum’s price broke out from long-term resistance levels this week, nearly reaching $3,000.
2. The technical analysis of the weekly time frame shows the ETH price has increased quickly since October 2023, with the RSI indicating an extremely bullish sign.
3. Analysts are positive about Ethereum’s future trend, with predictions of outperforming Bitcoin and reaching a new all-time high of $4,000.