The post Ethereum Price Eyes $4,811 And $8,550 Targets After Breakout appeared on BitcoinEthereumNews.com.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is showing strong bullish signals, with long-term targets a price of $4,811.71 and $8,550. The cryptocurrency recently broke out of a long-term resistance trendline in late 2022, marking a pivotal shift in its price trajectory. This breakout led to a sharp rally of approximately 234%, demonstrating Ethereum’s strength in the market. Currently, Ethereum is consolidating above key support levels after a minor pullback, with analysts predicting further upside potential. A healthy retracement after the initial rally has allowed ETH to stabilize, laying the groundwork for its next major move toward the projected targets. Key Breakout and Rally Since Late 2022 In December of 2022, Ethereum finally disposed of a significant bear market structure by breaking through a key trendline resistance. – Advertisement – This breakout indicated the change of the trend, as previous resistances now have acted as strong supports. This change in the trend meant that the price of Ethereum per coin rose to more than 234% in just a few months. A >2.61X to $8,550+ for Ethereum ⚡️: It may be only a matter of time before $ETH (Ethereum) continues on a massive uphill run to the $4811.71 target as these prices continue to hold well broken out of an older resisting trend! This breakout happened in Late 2022 with prices of… https://t.co/H1wBL6IoF1 pic.twitter.com/k6UGlWJt90 — JAVON⚡️MARKS (@JavonTM1) January 10, 2025 This breakout also brought Ethereum near a critical technical level of $4,811.71. The analysts have provided their insight saying that the breakout confirmed the strength of Ethereum especially considering that it trades above crucial levels. The cryptocurrency is now set for another rally given the increasing demand in the market as well as positive technical signals. Pull back and Technical Support at $4,811.71 Ethereum had a significant rebound, but then…

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Filed under: News - @ January 13, 2025 12:25 am