Ethereum

Cryptocurrency

David

<p>Cryptocurrency trader David <a href="https://twitter.com/DavidOnCrypto_/status/1739896568080150772" target="_blank" rel="noopener noreferrer nofollow">provided </a>an update on Ethereum’s price action on X this week, noting that ETH remains in an uptrend despite recent sideways consolidation on the charts.</p>
<p>His analysis highlights how Ethereum has stayed within the expected rising price channel he identified, starting from the $1,610 weekly close. Last week’s pullback found support right at the lower boundary of this channel, around $2,199.</p>
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<p>As long as Ethereum holds above this level on a closing basis each week, David believes further upside is likely. Specifically, he is targeting the $2,700 level next if the $2,199 support continues to hold. This would represent a 23% rally from current prices near $2,200.</p>
<p>The takeaway is that Ethereum is still behaving in line with bullish expectations from a longer-term technical perspective. Its recent lack of a clear trend on the charts appears to be just a period of consolidation within a larger uptrend dating back several months.</p>
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<p>As the second-largest cryptocurrency consolidates, traders will be closely watching to see if Ethereum can maintain its price channel support and eventually break out to test overhead resistance levels like the $2,700 target highlighted.</p>
<p>So while it may seem like nothing much is happening in the ETH market currently, the major uptrend still remains intact for now based on the analysis of traders like David.</p>
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<p>The post <a href="https://captainaltcoin.com/ethereum-poised-to-hit-2700-if-eth-holds-this-support-analyst/" rel="noopener noreferrer nofollow">Ethereum Poised to Hit $2700 If ETH Holds This Support – Analyst</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethereum Poised to Hit $2700 If ETH Holds This Support – Analyst

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