Summary
- Analyst Michaël van de Poppe stated that Ethereum (ETH) may set a new yearly high only if it breaks through the $2,680~$2,850 resistance zone.
- He also reported that it is important for Ethereum to break through the resistance area where the 200-day simple moving average is located.
- Ethereum is trading above the key support level ($2,400) and has risen 0.96% in the last 24 hours.
Analysis suggests that for Ethereum (ETH) to rise, it must break through the resistance zone at $2,680~$2,850.
On the 4th (local time), Michaël van de Poppe, a cryptocurrency analyst, stated on X (formerly Twitter), "Ethereum is currently in a position where significant price appreciation is expected," but added, "To reach a new yearly high, Ethereum must break through the resistance range of $2,680~$2,850, where the 200-day simple moving average is located." He also mentioned, "Currently, Ethereum is trading above the key support level ($2,400) on the 6-hour ETH/USD chart."
As of 8:51 p.m., Ethereum is trading at $2,628 on the Binance USDT market, up 0.96% over the past 24 hours.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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