Ethereum

<ul><li>Ethereum tests the $3,200 mark, with analysis suggesting a potential bullish trend amid Fibonacci and Elliott Wave theories.</li><li>ETH&#39;s price could signal a new high if it maintains above $2791, marking its second significant close in a bullish market.</li><li>Open interest in Ethereum nears 2021 highs, reflecting increased investor engagement and market optimism for its future trajectory.</li></ul><a href="https://cryptotale.org/ethereum-eth-navigates-bullish-trends-amid-market-optimism/" rel="noopener noreferrer nofollow">Ethereum</a> has stood out in the cryptocurrency market, currently testing the critical $3,200 level. The latest analysis from More Crypto Analysis on YouTube dives deep into Ethereum&#39;s technical landscape. Utilizing Elliott Wave theory, the speaker unveils the currency&#39;s placement within a larger Fibonacci zone. Ethereum&#39;s market peaked near $3,128, sparking discussions about potential future movements. Hence, the focus shifts to the possibility of a top formation and the implications of a drop below $3,100.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9dc23d86b3ca476dae2ee15ad9d0f912.png" />Moreover, the analysis delves into the micro-structure of Ethereum&#39;s price chart. It raises questions about whether the current trend is part of an initial wave or the onset of a larger third wave. Key indicators, such as the 78.6 extension level, suggest a direct extension might be on the horizon, contingent on breaking through certain levels. Consequently, the analyst adopts a bullish stance but remains cautious of local resistance that could hinder upward momentum.<a href="https://cryptotale.org/ethereum-poised-for-a-historic-breakthrough-above-key-level/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

Ethereum Poised for a Historic Breakthrough Above Key Level

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