After the completion of the double bottom structure, the price of Ethereum is like a bamboo shoot, breaking through resistance strongly, indicating that it will continue to climb, with a target of $2000.Today, the wider cryptocurrency market is experiencing a new exciting stage! With the pace of Bitcoin, counterfeit currency has jointly driven the entire cryptocurrency market up by 7
After the completion of the double bottom structure, the price of Ethereum is like a bamboo shoot, breaking through resistance strongly, indicating that it will continue to climb, with a target of $2000.
Today, the wider cryptocurrency market is experiencing a new exciting stage! With the pace of Bitcoin, counterfeit currency has jointly driven the entire cryptocurrency market up by 7.5%, bringing investors over $150 billion in lucrative returns.
Ethereum Leading the Shanzhai Coin Party
As the price of Bitcoin breaks through the waves and pushes towards the peak of $23000, top-notch digital currencies such as Ethereum are also in full bloom, with an increase of up to 8%, easily breaking the $18000 mark. Looking ahead, its momentum is even stronger than the $2000 mark. Since the beginning of this year, the growth rate of Ethereum has expanded to over 50%, making people marvel at its fierce offensive.
It is worth mentioning that the US SEC has accepted Grayscale's proposal to convert Ethereum Trust (ETHE) into a spot Ethereum ETF.
On the technical chart, Ethereum prices have formed a double bottom after breaking through the $1745 level, and other technical indicators also suggest that the upward trend will continue.
If traders continue to hold open positions, they may push Ethereum prices above the 12.25% level to $1958. Once a breakthrough occurs, trading volume may surge as traders seize this new opportunity and seek opportunities for Ethereum to break through neck resistance.
At present, the price of Ethereum is expected to maintain an upward trend, which can be confirmed by the relative strength index (RSI) of 75. However, investors need to remain cautious as this overbought situation may lure traders to take profits or protect their investments.
As shown by the Money Flow Index (MFI), the advantage lies in being long. The continuous growth of this indicator indicates that buyers are dominant in the upward trend.
For Ethereum bulls, breaking the $2000 mark may be an important turning point, as it could become a catalyst for the next bull market.
ADA and DOGE, also known as Big Move
Among the top ten cryptocurrency players in the world, Dogcoin and Caldano are like twins, keeping pace with Ethereum and both have recently achieved exciting 8% growth. At the same time, BNBCoin and RippleXRP, two of the top players, are not weak, both rising by 4%.
At this moment, Solana, which has always been eye-catching, is slightly lackluster. Although it had surged 30% in the previous week, it now seems to have entered a consolidation period with no surprises.
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