Ethereum, the second-largest crypto by market capitalization, is currently exhibiting signs of a bullish breakout, as observed by two prominent analysts in the crypto space. According to World Of Charts, Ethereum shows consolidation within a bullish pennant pattern. This technical formation typically suggests continuing an upward trend in Ethereum’s case. According to the analyst, if Ethereum successfully breaks out of this pattern, it could surge toward a significant level of $3,500. $Eth Trend Is Up Consolidating In Bullish Pennant Expecting Breakout Soon Incase Of Successful Breakout Expecting Move Towards 3500$#Crypto #Eth #Ethusdt #Ethereum pic.twitter.com/nlqbMfh3k0 — World Of Charts (@WorldOfCharts1) January 10, 2024 Crucial Resistance Zone: Ethereum Path To Breakout Adding to World Of Charts’ optimistic outlook, crypto trader Skew has identified the $2,320–$2,382 range as a key resistance zone for Ethereum. This price range has historically acted as a barrier to Ethereum’s upward movement, with “numerous rejections” witnessed at these levels. Related Reading: Ethereum Reaches Critical Inflection Point Against Bitcoin: What Happens Next? Skew emphasizes the importance of Ethereum closing above $2,400 on the 1-hour and 4-hour cha ..
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