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Home»Ethereum»Bullish Breakout On The Ethereum 4-Hour Chart Says Price Is Headed For $2,500
Ethereum

Bullish Breakout On The Ethereum 4-Hour Chart Says Price Is Headed For $2,500

March 19, 2025No Comments2 Mins Read
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Ethereum has been experiencing a downward trend in recent weeks, with its price dropping below $2,000. This decline led to a low of $1,750 on March 11, the lowest point since November 2023. Despite this significant drop, there are signs that Ethereum may be on the brink of a bullish turnaround as it retests a crucial resistance level on the 4-hour chart.

The price action of Ethereum has been dominated by downtrends, causing many investors to exit their positions since the beginning of March. Ethereum finally broke below $2,000 on March 10 and has been trading below this level for the past week. However, after reaching a low of $1,750, Ethereum has shown signs of recovery and has rebounded to around $1,900. This recovery has brought the cryptocurrency back to a downward-sloping resistance trendline, a level that has been a barrier to upward movements during the recent downtrend.

The test of this resistance level presents a potential breakout scenario, with the possibility of bullish momentum flowing back into Ethereum. An analyst on TradingView highlighted this setup and suggested that a breakout above the resistance trendline could lead to a significant rally above $2,000.

Despite the prevailing bearish sentiment in the crypto market, a TradingView analyst has identified a bullish trade setup on Ethereum’s 4-hour candlestick chart. This indicates that there is still optimism among some analysts and investors who believe that Ethereum could regain its bullish momentum.

According to the analysis, a confirmed breakout above $1,885 could serve as an ideal entry point, with a potential price target of $2,596 if Ethereum breaks above the resistance trendline. The analysis also recommends placing a stop loss at $1,700 to manage risk in case the price is rejected at the resistance level.

See also  417K ETH converted into BTC - Why the next few days could shape market volatility

Currently, Ethereum is trading at $1,895, with the price hovering around the resistance trendline. There is a possibility of another push upward in the next 48 hours, especially if there is a surge in volume to confirm the breakout with momentum.

In conclusion, Ethereum’s price action is closely monitored, with the potential for a bullish turnaround if it breaks above the key resistance level. Traders and investors are advised to watch for further price movements and volume confirmation to gauge the market sentiment accurately.

4Hour Breakout Bullish Chart Ethereum Headed Price
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