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Ethereum Price Targets $7,700 ATH
The Ethereum price has finally broken out of a months-long consolidation pattern, signaling the possible start of a significant bullish move. The recent breakout of an Ascending Triangle formation suggests that ETH is set for more gains, with a crypto analyst suggesting a price target of $7,800 in the coming months.
Ethereum Price to Reach $7,800?
The Ethereum price is believed to be targeting a new all-time high of $7,800 after its recent breakout from an Ascending Triangle. For months now, the cryptocurrency has been trading within this classic bullish chart pattern, where prices make higher lows while facing strong resistance at a fixed level.
Why $7,800?
According to Sohaibfx, a measured move of the Ascending Triangle suggests that Ethereum is poised for an explosive 333% surge to $7,800. This bullish target is calculated by determining the height of the triangle, which is the difference between its base at $2,000 and resistance level at $4,000.
Support Levels And Momentum Indicators To Watch
In his price analysis, Sohaibfx has pinpointed the $4,000 and $3,000 price levels as support levels for Ethereum. This support should act as a safety net, where buyers are likely to step in to prevent further decline after Ethereum reaches its projected $7,800 target.
Conclusion
The Ethereum price is expected to continue its upward trend, with a potential target of $7,800 in the coming months. The recent breakout of an Ascending Triangle formation suggests that ETH is set for more gains, with a crypto analyst suggesting a price target of $7,800.
FAQs
Q: What is the current price of Ethereum?
A: The current price of Ethereum is not specified in the article.
Q: What is the Ascending Triangle formation?
A: The Ascending Triangle is a classic bullish chart pattern, where prices make higher lows while facing strong resistance at a fixed level.
Q: What is the target price for Ethereum?
A: The target price for Ethereum is $7,800, according to Sohaibfx.
Q: What are the support levels for Ethereum?
A: The support levels for Ethereum are $4,000 and $3,000, according to Sohaibfx.
![Crypto Will Remain Boring Until… [COMING SOON]](https://i.ytimg.com/vi/bi_kJKY1K8M/hqdefault.jpg "Crypto Will Remain Boring Until… [COMING SOON]")
