Ethereum Price Prediction as $ETH Hits $2.4K – Breakout or Bull Trap?
The post Ethereum Price Prediction as $ETH Hits $2.4K – Breakout or Bull Trap? appeared on BitcoinEthereumNews.com.
Ethereum has recently achieved a remarkable feat, breaking the $2.4K mark and igniting a surge in its price that many previously thought impossible. In just 30 days, it surged by over $1,000, an impressive rally that left many in the crypto space astonished. A crucial moment in this bullish trend occurred on May 7th when a call was made for investors to dollar-cost average (DCA) at $1.5K, a strategy that paid off as Ethereum soared to $2.4K. This notable rise has led to partial profit-taking by some, but with caution, as the uncertainty of whether the rally will continue or be a “bull trap” looms large. The market’s volatility plays a significant role in these unpredictable movements, which are often characterized by confusion and high leverage positions—both long and short—that fuel massive price fluctuations. Ethereum’s growth has not only captured attention but also triggered euphoria in the market. The coin has recently reached levels that indicate its market strength, with the Relative Strength Index (RSI) hitting extreme levels. This article delves into Ethereum’s price outlook and highlights Best Wallet—one of the top emerging crypto wallets—whose native token, $BEST, is currently in presale and has already surpassed the $12 million milestone. Source – Jacob Crypto Bury on YouTube Ethereum Price Prediction As of now, $ETH is trading at $2,343 with a market capitalization of $282 billion and a 24-hour trading volume of $41 billion. The price of $ETH has risen by 6% over the past 24 hours. Ethereum has demonstrated exceptional strength over the past 48 hours, defying bearish expectations and breaking through key resistance levels. The price surged from below $2,000 and is now testing higher resistance zones around $2,500, reflecting bullish momentum not seen since major market events earlier this year. Historical resistance near $2,250 had little impact, indicating…
