The technical indicator specific to Ethereum (ETH) points to a rise towards a new all-time high.
cryptocurrency exchange Kraken’s OTC analysts The review made by Ethereum made investors happy. In the analysis presented, it is stated that Ethereum has assumed an ascending triangle structure, and as a price target $5,200 was shown.
This analysis of the weekly chart revealed that Ethereum has strongly broken a resistance that it has not been able to overcome for a long time at $ 2,140. Additionally, Ethereum surpassed $3,000 earlier this week. August 2022 And Coming from April 2023 peaks broke the horizontal resistance and crossed this level to support transformed.
Analysts $2,140 is a critical level to watchreminded that closings below this level will disrupt the ascending triangle formation.
In the details of the statement made by Kraken OTC, to all-time high (ATH) The target was expressed as follows:
ETH failed to break below $2,141, which is the key pivot on the weekly chart and the upper limit of the ascending triangle formation. The target implied by this pattern is around $5,200, which would be a new all-time high for ETH. The critical level to watch is $2,141. A close below this will invalidate the ascending triangle pattern.
According to CoinGecko data, in the last 24 hours %2 Ethereum, which is on the rise, at the time of writing from $3,005 is being traded.
