Ethereum

Hope

Bitcoin

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The Ethereum (ETH) price is currently forming a pennant pattern, according to crypto analyst Ali Martinez.
In his recent <a href="https://x.com/ali_charts/status/1821803186866303143">post</a> on X, he pointed to a pennant forming lower time frames, indicating a potential rise of over 4% toward $2,820.
<img height="1141" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc3lT2Z0ytdm1uRxZHKzA7s3lcDB-JIWwhHhx2XLvniJlw2c3WQUUs_9YK17a8sSuZZKBrJTdASjZ-yNKAw86gIYhZXE9dyM8ib2zv0ZQA0BU4oGm4gtX40N_Y0OlY6HYHG2qHG6qIf7dgvQ37caInI4-9s?key=TTf9w7eaZQx3imeAsYx7Sg" width="624"><a href="https://x.com/ali_charts/status/1821803186866303143">Source: Ali_Charts/X</a>
According to Ali Martinez, the most important support level for Ethereum is between $2,314 and $2,435, where 2.14 million addresses acquired 51.67 million $ETH, while the current target is $2,930.
<h2 id="ether-in-critical-condition">Ether in critical condition</h2>
Ethereum has had one of the sharpest declines during the recent market correction, which cost Ether losing almost a third of its value in a matter of days.
Since the short-term bull run due to the anticipation of a spot ETF, the altcoin’s price has been free-falling from its peak levels near $4,000 in March.
<img height="416" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeGFe7TSTq49jfQUMswgjxUnwYqTOGTpnatcZBFayo6MqVHiuv8Vpyj7gVBWRWQnV3SR1KHS33BVP3soARES5RbjNpKQpXYSQwzy7pUvY89G9uzr195MeMXnzioENIBD6BBV1sOqouuyIS2IhE5URMwgb0?key=TTf9w7eaZQx3imeAsYx7Sg" width="624">Source: CoinMarketCap
This past week, the crypto market has been on the path to recovery. As the Bitcoin price reached $63,000 on Friday, the overall crypto market cap has regained $2.1 trillion.
Despite all the trouble, Ethereum (ETH) whales have started a huge buying spree on Friday, which could potentially mean they are buying the dip in large transactions.
Collectively, they have bought almost $56 million worth of Ethereum in 24 hours.

New Hope for Ethereum as ETH Price Shows Bullish Signs

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