Ethereum Explosive Comeback: The Path to New Heights
Ethereum (ETH) on a weekly timeframe, showcasing a long-term perspective of its market trends. A significant historical resistance area in blue at $3,970.96 – $4,407.2, which is near the region of the “Previous ATH” (All-Time High) at around $4,868. This level marks a critical zone where ETH struggled to break above in the past.
Currently, Ethereum’s price appears to be recovering after a substantial decline from its previous peaks. The market is trading around $3,308, showing gradual progress toward retesting the blue resistance zone. This area will likely play a pivotal role in determining whether Ethereum can reclaim its former glory or face rejection once again.
The price of ETH was rejected from the Blue zone many times, after a clear breakout the first resistance is the previous All-time High at $4,868 after clearing this it could potentially aim for the expected target of $8,144.43. The price might encounter fluctuations along the way, including pullbacks and consolidations, as it climbs toward this ambitious goal.