Summary
- İbrahim COŞAR suggested that Ethereum (ETH) could reach as high as $4,000 if it breaks through the key resistance.
- COŞAR stated that the 50-week Exponential Moving Average (EMA) is the key resistance, and that breaking it has historically led to an average 58% increase.
- Currently, Ethereum is trading at $2,537, with the 50-week EMA estimated at $2,569.
There is an opinion that Ethereum (ETH) could reach as high as $4,000 if it breaks through its key resistance level.
On the 18th (local time), CryptoQuant contributor İbrahim COŞAR stated in a report, "Currently, the key resistance for Ethereum is the 50-week Exponential Moving Average (EMA)," and added, "Historically, when Ethereum has broken through the 50-week EMA, it has surged by about 25% to 135%."
He continued, "That averages to a 58% increase. If Ethereum breaks through this resistance this time, based on the current price, it would reach around $4,000." According to the attached data, Ethereum's 50-week EMA is estimated to be at $2,569.
As of 5:29 PM, Ethereum is trading at $2,537 on the Binance USDT market, down 1.66% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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