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At the start of the new week, Ethereum (ETH) – the second largest cryptocurrency by market capitalization – experienced a significant drop, lowering almost 10% below the level of critical support of $ 2,500.
However, in the midst of this slowdown, an eminent Crypto Docter Profit analyst identified four bullish indicators This suggests that Ethereum can be ready for resurgence, potentially getting closer to its top of all time and even exceed it.
Key indicators report a bullish turn
In a recent job On X (formerly Twitter), Doctor Profit shared information from a long -term detailed analysis of Ethereum. He stresses that this assessment does not concern short -term beateering or rapid benefits, but focuses on the coming months.
“Currently, ETH is the best opportunity of the market,” he said, highlighting key – technical, psychological and chain – indicators – who support his bull -up position.
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The analysis of Doctor Profit is based on data on extended prices prices, emphasizing high chassis signals which generally indicate significant market movements. Here are the four main indicators he described:
The 200 weeks Exponential mobile average (EMA) Historically served as a level of critical support in Ethereum. During the slowdowns of the past market, as the crash coche in 2020 and the bear market in 2022, the price quickly rebounded after plunging below this key threshold.
Since a few weeks ago, the price was only 4% of this support, the risk-reversal ratio for potential investment is convincing. Doctor Profit estimates a possible development towards the range of $ 8,000 to $ 10,000, which represents an increase of approximately 200%, while the worst case offers only one drawback of 20%.
The benefit of the doctor sees a potential for a sharp increase in Ethereum prices
The analyst also stressed that Ethn price Trends in a long -term ascending channel, currently approaching its lower border – a historically favorable entry point for investors.
Doctor Profit anticipates an escape from this channel in the coming months, targeting the $ 4,000 mark, a level that has been faced with several refusals.
However, the analyst guarantees that each failed attempt brings the Ethereum price closer to a final escape, with potential objectives achieving up to $ 8,000 to $ 10,000.
One of the most important models currently in shape is the weekly upward triangle. This model was consolidation Since 2020, indicating a robust bullish configuration.
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Doctor Profit notes that displacements from these models often cause substantial price expansions, similar to recent trends observed in XRP. The implications of this training suggest that Ethereum can be on the verge of a powerful ascending movement.
A substantial liquidity zone exists around the region of $ 4,000, aligning perfectly with the planned rupture of the ascending canal and the ascending triangle.
This concentration of liquidity could facilitate a strong response from the market, according to the analyst, propeling Ethereum through this critical threshold and triggering a Movement upwards.
Despite the current lowered feeling surrounding Ethereum, characterized by a detail and great fear, the doctor’s profit emphasizes that institutional accumulation is increasing.
The registration entries in the stock market negotiated funds in Ethereum (ETF) and major withdrawals on the chain also indicate that larger investors are positioned for future gains.
ETH is currently negotiating at $ 2,420, down 10% in the last 24 hours and in last week.
Dall-e star image, tradingView.com graphic
