Summary
- İbrahim COŞAR, a contributor at CryptoQuant, reported that Ethereum (ETH) has approached the key resistance level of the 50-week Exponential Moving Average (EMA).
- COŞAR stated that when the 50-week EMA is breached, the price has risen by an average of 58% in the past, and this time, it could reach as high as $4,000.
- He emphasized that it is important for Ethereum to close above $2,500.
Ethereum (ETH) is approaching a key resistance level, and there is an assertion that if it breaks through this level, it could reach as high as $4,000.
On the 25th (local time), İbrahim COŞAR, a contributor at CryptoQuant, stated in a report, "Currently, Ethereum is approaching the 50-week Exponential Moving Average (EMA)," adding, "The 50-week EMA is a key resistance line, and if it is breached, the price could rise up to $4,000." He continued, "I believe a breakout of this range is imminent. However, Ethereum should close above $2,500 based on the closing price," he emphasized.
Previously, on the 18th, he presented a similar analysis. COŞAR noted, "Historically, when Ethereum broke through the 50-week EMA, it surged about 25% to 135%," adding, "This is an average increase of 58%. If this resistance is broken this time, from the current price, it could reach approximately $4,000." According to the attached materials, Ethereum's 50-week EMA is assessed at the $2,569 level.
As of 4:26 PM, Ethereum is trading at $2,449 on Binance USDT market, up 1.12% from 24 hours ago.
Son Min
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