Ethereum Analyst Sets $3,000 Target As Price Action Signals Momentum – Details
Ethereum and the crypto market experienced a slight increase, raising hopes for a trend reversal after weeks of selling pressure. Global economic tensions, particularly between the US and China, contribute to market uncertainty. Analysts, including Carl Runefelt, suggest that Ethereum may be on the verge of a significant upward movement, potentially breaking a daily descending trendline. Ethereum is currently holding above critical support levels around $1,500 and showing signs of recovery. A successful push above $1,700 could indicate renewed bullish momentum. Runefelt predicts a target of $3,000 if a breakout occurs. Despite global risks, Ethereum's fundamentals remain strong, with increasing adoption in DeFi and real-world assets, positioning it for potential recovery.
