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Ethereum News: Potential 38% Price Surge to $3,500 on the Horizon
Crypto analyst Crypto Bullet recently discussed the potential for Ethereum’s price to surge by 38%, possibly hitting the $3,500 mark soon. The key factor influencing this potential rise is the 50-day Exponential Moving Average (EMA), which, according to Crypto Bullet, has been the primary barrier preventing a significant price leap. However, a breakout seems imminent, which could trigger this substantial increase.
Breakthrough Above $2,500 Fuels Optimism
After Ethereum broke the $2,500 resistance level, optimism regarding its price trajectory has significantly increased. This pivotal movement could pave the way for Ethereum to reach the forecasted $3,300 and potentially extend to $3,500. Crypto Bullet outlined that historically, similar breakouts have led to roughly 38% gains, aligning perfectly with the $3,500 target.
New Bull Run Initiatives
Further fueling the bullish sentiment, another analyst, Trader Tardigrade, indicated that Ethereum is likely embarking on a new bull run. This observation came after ETH’s price not only closed above the $2,650 resistance but also opened above it the following day, marking a promising upward momentum.
Technical Indicators Bolster Bullish Predictions
In addition to breaking past significant resistance levels, Ethereum is also challenging the 200-day Moving Average (MA), with attempts to surpass the $3,000 to $3,300 range. A successful breakout here could potentially elevate the price towards $4,000.
For more insights and updates on Ethereum’s market movements, you might want to visit [Financier News](https://www.financier.news/).
As Ethereum continues to test these critical levels, the crypto community is keenly watching for the next big move. You can find more about Ethereum and other cryptocurrencies on [Binance](https://www.binance.com/).
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